China and the US Want to Improve Trade Relations

China and the United States want to improve their trade relations. The two countries agreed in the first telephone calls between trade ministers since Joe Biden took office, the Chinese government said in a statement.

 

China and the US exchanged “candid and pragmatic views on relevant issues and mutual concerns,” the Chinese said. The Americans declined to respond to a request to comment on the talks but seemed less positive beforehand.

Last weekend, US Trade Representative Katherine Tai said trade relations between the two countries are “significantly unbalanced”. Parts of the trade relationship between the countries, she says, have been unhealthy and, in some ways, have also been damaging to the US economy over time.

The Biden administration has also not yet made major changes to former President Donald Trump’s policies, despite a promised review.

On Tuesday, it was announced that the United States would approach unfair trade practices, especially by China. A special commission is being set up for this, the Biden administration said. In addition, access to critical products such as semiconductors and batteries for electric vehicles is under review.

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