U.S. and Chinese flags stand behind microphones at the U.S. embassy in Beijing April 9, 2009.
Frederick Brown | AFP | Getty Images
U.S. Commerce Secretary Gina Raimondo met with Chinese Commerce Minister Wang Wentao in Washington, D.C., on Thursday to discuss “concerns” surrounding bilateral trade.
In the first cabinet-level exchange between the two countries in months, the U.S. spoke about U.S. companies operating in China.
according to a reading Ministry of Commerce“The two sides had candid and substantive discussions on issues related to US-China economic and trade relations, including the overall environment for trade and investment between the two countries and potential areas of cooperation.”
Raimondo also “has raised concerns about a spate of recent Chinese actions against U.S. companies operating in China,” it said.
As relations between the world’s largest economies soured, with market watchers closely watching whether the United States would curb U.S. investment in China, Raimondo and Wang had a bilateral exchange.
Meeting with Hiroshima over the weekend, G7 leaders vowed to “reduce risks and diversify” away from dependence on China, adding that some of Beijing’s practices “distort the global economy”.
High-level talks come from China Reported inspection of U.S. audit firm In the mainland due to national security breaches.
Earlier this week, China announced it would ban some purchases from U.S. memory chipmakers micron – A ban on operating “critical information infrastructure” in China following a security review by the Cyberspace Administration of China.
In response, a spokesman for the U.S. Department of Commerce said, “We firmly oppose unsubstantiated restrictions.” He said the department would contact the Chinese government to “detail” its position and seek clarification.
In released version Chinese Ministry of Commerce After meeting with Raimondo, Wang also raised concerns about U.S. semiconductor policy and export controls.
“The two sides agreed to establish communication channels to maintain and strengthen exchanges on specific economic and trade concerns and cooperation matters,” the statement said.
Wang Yi is expected to meet with U.S. Trade Representative Katharine Day during his visit to the U.S., when he will attend a meeting of APEC trade ministers.