US, China trade officials make first call, agree to promote ‘healthy’ tires | world news – Community News
Us China

US, China trade officials make first call, agree to promote ‘healthy’ tires | world news

Relations between the US and China have remained tense for years due to hegemonic rivalry in the Pacific and mutual distrust of each other’s political intentions. Today’s phone call between the two trade ministers is part of an effort to bridge these fraught ties under the Biden administration.

The United States of America (U.S.) and China have agreed to promote mutual trade and investment ties, Bloomberg news agency reported, citing a telephone conversation between Chinese Commerce Secretary Wang Wentao and his US counterpart Gina Raimondo on Thursday morning. . In what comes as their first such call since the beginning of the Biden-Harris administration, ministers “agreed to promote the healthy development of pragmatic trade and investment cooperation” and “exchanged candidly and pragmatically on relevant issues and mutual concerns”. according to a statement from the Chinese government led by Xi Jinping.

Relations between the US and China have remained tense for years due to tense economic ties, hegemonic rivalry in the Pacific, mutual mistrust of each other’s political intentions and global influence. Today’s phone call between the two countries’ trade ministers is part of an effort to bridge these fraught ties under the Biden administration – and is the third call this week after Chinese Vice Premier Liu He spoke to US officials. Trade Representative Katherine Tai and Treasury Secretary Janet Yellen previously.

China seems optimistic about the latest efforts to normalize economic and political ties between the two countries. According to Gao Feng, the spokesman for China’s Ministry of Commerce, the country has started “normal communication” with the US. The two sides have agreed to pragmatically solve a number of problems for producers and consumers and promote healthy, stable economic and trade relations, he said.

American statements, on the other hand, don’t look so positive. While the Biden administration is committed to leveling the “significantly unbalanced” trade ties with China, there are parts of the US-China relationship “that are unhealthy and harmful over time in some very important ways.” been to the US economy,” the US said. Trade Representative Katherine Tai said this over the weekend before a meeting of Asia-Pacific trade ministers.

Investors and market analysts are keeping a close eye on developments in the international sphere, according to the news agency, without getting too enthusiastic about the normalization efforts. While it is true that the intensification of economic and trade cooperation between the two countries is a positive step worth noting, it is also true that no significant “game-changing decision” or announcement has yet to be made.

(With input from agencies)

Close story

About the author

Rakesh

Add Comment

Click here to post a comment