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The US Treasury Secretary Janet Yellen has visited Beijing, the latest of a series of high-level visits by US officials to Beijing. During her four-day visit, Yellen met several top Chinese officials, including Premier Li Qiang, Vice Premier He Lifeng, Minister of Finance Liu Kun, and the Deputy Governor of the People’s Bank of China Pan Gongsheng. Meanwhile, Kerry stated that the US “is willing to strengthen cooperation with China to jointly address urgent global challenges such as climate change”. In 1971, almost exactly 52 years to the date, Kissinger embarked on a secret diplomatic mission to Beijing as the National Security Advisor to President Richard Nixon, where he met with Premier Zhou Enlai.
What Trump’s Tariffs Will Mean for China
The US-China Joint Glasgow Declaration on Enhancing Climate Action in the Donchian channel metatrader 4 2020s says both sides will “recall their firm commitment to work together and with other parties” to achieve the 1.5C temperature goals set out in the 2015 Paris Agreement. Previously, Washington decided to classify Chinese state media organizations, including Xinhua News Agency and the China Global Television Network (CGTN), as “foreign missions”, allowing tighter control to be exercised over five Chinese outlets. Washington also slashed the number of Chinese nationals allowed to work at the US offices of major Chinese state-owned media and limited their authorized stay to 90 days, with an option to extend.
China’s Vice Premier Liu He and US Treasury Secretary Janet Yellen talked via video call and discussed the economic situation and US-China relations. According to readouts from China’s commerce ministry and the US treasury department, the two sides agreed that developments in China and the US have important implications for the global economy and it’s crucial for both countries to strengthen communication and coordination of macroeconomic policies. Chinese Vice Premier Liu He expressed China’s views on US tariffs and sanctions and the treatment of Chinese companies in the meeting. On Thursday, President Biden and President Xi held a two-hour call, in which they discussed cooperation between the two the commitments of traders bible countries and issues surrounding Taiwan and Ukraine, among other matters.
Normalized Trade Relations
But on more urgent issues of new risk reduction measures, the upcoming, top-level military-to-military talks will be a test of Beijing’s seriousness. With U.S. and Chinese maritime and air forces operating in dangerous proximity to each other, there is pressing need for new arrangements so operators can better communicate to prevent incidental clashes that could escalate. Both sides could take reciprocal steps to reduce the games of chicken being played in the East and South China Seas as well as in waters and airspace around Taiwan.
The US Department of Commerce’s Bureau of Industry and Security (BIS) has added 37 new entities to the “Entity List” for export restrictions, of which 28 are Chinese. According to the BIS’ press release, the companies were added to the Entity List because they are “contributing to Russia’s military and/or defense industrial base, supporting PRC military modernization, and facilitating or engaging in human rights abuses in Burma and in the People’s Republic of China”. The meeting is the latest in a concerted effort by the US and China to revive bilateral dialogue following the deterioration of relations in the past few months. Both sides agreed to maintain open lines of communication in a range of fields, including counter-narcotics, foreign policy, Asia-Pacific affairs, maritime affairs, artificial intelligence, and military-to-military dialogue. According to a MOFCOM spokesperson, the primary aim of the export controls is to enhance national security by ensuring that advanced technology does not fall into the hands of adversaries or entities that could use it against China’s interests.
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Australia’s decades-long balancing act between the US and China is over. It chose Washington
- On Wednesday, May 18, US Security Advisor Jake Sullivan and top Chinese diplomat Yang Jiechi held a phone conversation, in which Yang stated that “the United States has taken a series of wrong words and deeds that interfere in China’s internal affairs and harm China’s interests”, according to Chinese state media.
- According to the MOD, Kissinger and Li discussed the current state of US-China relations and lamented the deterioration of bilateral ties.
- Following this, at a press briefing on May 11, the US Department of State Spokesperson stated that “our policy towards Taiwan has not changed” and “we do not support Taiwan independence”.
- Wang Yi clarified that China supports the national sovereignty of all countries, including Ukraine.
- The restrictions have already prompted some investment firms, like Sequoia Capital and Matrix Partners, to adjust their operations in China to comply with U.S. regulations.
Tai underlined the importance of investing in U.S. workers, infrastructure, and research and development programs, arguing that such investments will allow the United States to negotiate from a position of strength. The Biden administration, unlike the Trump administration and much of the Republican Party, has championed the first part of this formulation but not the second. Biden has attempted to repair the damage done by the Trump administration’s hostility toward multilateral institutions. But he has given preference to institutions that exclude China and to ad hoc groupings aimed against China. This, for instance, is how Xi Jinping interpreted the Hong Kong democracy protests of 2019, which China’s media frequently attributed to foreign subversion. U.S. President Joe Biden hosts a bilateral meeting with Chinese President Xi Jinping at the Filoli Estate in Woodside, California, Nov. 15, 2023.
Is Taiwan part of China?
China has placed tariffs on over US$100 billion worth of US goods in retaliation to the USTR’s Section 301, which placed tariffs on over US$360 billion worth of Chinese goods during the Trump Administration in 2018 and 2019. The Customs Tariff Commission of the State Council has announced it will extend the tariff exemption on a batch of goods that were due to expire on February 16. The tariffs on 124 goods, which were imposed as a countermeasure to the US Section 301 tariffs on Chinese goods, will continue to be suspended until September 15, 2023. In addition to Kerry’s potential visit, Secretary of State Antony Blinken recently told the media that he may try to visit China sometime in 2023, following the cancellation of his previously planned visit in February. Wang Wentao was also supposed to meet with US Trade Secretary Katherine Tsai at the APEC forum trade minister meetings in Detroit, however, no information has been released about the possible meeting thus far.
The readout calls for the two sides to “strengthen coordination, build consensus, and act promptly to form a joint force to deal with climate change to the greatest extent”. Meanwhile, Kissinger stated that “the US-China relationship is of vital importance to the peace and prosperity of both countries and the world” and that he is “willing to continue to make efforts to enhance mutual understanding between the people of the US and China”. Entities placed on the Unverified List are subject to certain US export restrictions and prohibitions. On February 7, 2022, the BIS added 33 Chinese entities to the Unverified List, the majority of which were high-end technology companies.
President Richard Nixon’s historic trip to Beijing in 1972, the turn toward outright confrontation over the past few years has threatened the interests of both countries and the world. By all accounts, the meeting between Presidents Joseph Biden and Xi Jinping on the sidelines of the Asia Pacific Economic Cooperation (APEC) Summit in San Francisco has, for the time being, served to halt this downward spiral. The two leaders’ discussion, which the White House said again touched on climate change and drug trafficking, comes ahead of several events that could prove crucial to US-China relationship. The two presidents fxtm forex broker review previously met in November at the Asia-Pacific Economic Cooperation (Apec) summit in San Francisco, California, where they agreed to address climate change and fentanyl trafficking.