U.S., China's top commerce officials meet to discuss trade concerns

U.S. Secretary of Commerce Gina Raimondo sat down with her Chinese counterpart Wang Wentao successful Washington D.C. connected Thursday to sermon "concerns" surrounding bilateral trade.

Marking the archetypal cabinet-level speech betwixt the 2 countries successful months, the U.S. talked astir American companies operating successful China.

According to a readout by the Commerce Department, "The 2 had candid and substantive discussions connected issues relating to the U.S.-China commercialized relationship, including the wide situation successful some countries for commercialized and concern and areas for imaginable cooperation."

Raimondo besides "raised concerns astir the caller spate of PRC [People's Republic of China] actions taken against U.S. companies operating successful the PRC," it said.

The bilateral speech betwixt Raimondo and Wang comes arsenic marketplace observers support a adjacent oculus connected whether the U.S. volition curb American investments into China, arsenic relations betwixt the world's largest economies sour.

The Group of Seven leaders met Hiroshima implicit the weekend, and vowed to "de-risk and diversify" from Chinese reliance, adding that immoderate of Beijing's practices "distort the planetary economy."

The high-level talks travel arsenic China reportedly conducted inspections connected U.S. audit firms successful the mainland implicit nationalist information breaches.

Earlier this week, China announced it volition prohibition immoderate purchases of products from U.S. representation chipmaker Micron — barring operators of "critical accusation infrastructure" successful China aft a information reappraisal conducted by the Cyberspace Administration of China.

In response, the U.S. Commerce Department's spokesperson said, "We firmly reason restrictions that person nary ground successful fact." He said the section volition prosecute with the Chinese authorities to "detail" its presumption and question clarity.

In the merchandise published by China's Ministry of Commerce aft his gathering with Raimondo, Wang besides raised concerns implicit U.S. policies connected semiconductors and export controls.

"The 2 sides agreed to found connection channels to support and fortify exchanges connected circumstantial economical and commercialized concerns and practice matters," it said.

Wang is expected to conscionable U.S. Trade Representative Katherine Tai during his sojourn to the U.S. wherever helium is acceptable to be the Asia-Pacific Economic Cooperation commercialized ministers' meeting.