According to the USTR, this extension allows for a systematic review of the exclusions, taking into account statutory factors and objectives. The USTR has also opened a docket for public comments on existing exclusions starting from January 22, 2024. The Chinese also stated that the US “needs to take seriously China’s concerns and do more things that contribute to the growth of the military-to-military relationship.” The Chinese side also emphasized its position on Taiwan and its interests in the South China Sea. The talks follow the resumption of bilateral city index review military talks in December 2023, after such talks were suspended for over a year.

The House of Representatives passed a final iteration of the text, which reconciled key differences between House and Senate. The new version keeps provision creating a “rebuttable presumption” – assuming all goods sourced wholly or in part from Xinjiang are tainted with forced labor, unless “clear and convincing evidence” can be provided otherwise. SenseTime later announced that it would delay its Hong Kong IPO, where it had planned to raise up to US$767 million. In a brief statement, the company argued that the accusations were “unfounded” and reflected a “fundamental perception” of the company. The other entities blacklisted are Cloudwalk Technology Co., Ltd.; Dawning Information Industry Co., Ltd.; Leon Technology Company Limited; Megvii Technology Limited; Netposa Technologies Limited; Xiamen Meiya Pico Information Co., Ltd.; and Yitu Limited.

The readouts of the meeting were similar to that of the last one between Liu He and US Trade Representative Katherine Tai. US President Joe Biden withdrew a series of Trump-era executive orders that sought to ban new downloads of China-owned apps WeChat and TikTok. To replace the Trump-era ban, Biden signed new orders calling for the Commerce Department to launch national security reviews of apps with links to foreign adversaries, including China.

The US has seen similarly extreme weather events this year, including flooding, heat waves, and the adverse impact of wildfires in neighboring Canada. The visit by Raimondo is seen as an effort to move forward on bilateral discussions on these issues. It is also the latest in a series of high-profile visits by US officials to China in efforts to improve bilateral relations following the meeting between US President Joe Biden and Chinese President Xi Jinping in late 2022. According to the announcement from the US Department of State, Blinken and Wang will discuss “a range of bilateral, regional, and global issues as part of ongoing efforts to responsibly manage the US-China relationship and to maintain open channels of communication”.

What do experts think of where the U.S.-China trade war stands?

  • It remains to be seen how the sudden turn of events will affect US-China and China-Canada relations.
  • The Chinese Defense Ministry, referencing the recent meeting between Presidents Joe Biden and Xi Jinping in San Francisco in November, emphasized the need for mutual respect and equality in military exchanges to stabilize and improve bilateral relations.
  • The addition follows the publication on March 10 of a provisional list of five Chinese companies for possible delisting from US stock exchanges (see Day 414 – 420 update).
  • The tariff exemption, which was set to expire on November 30, 2022, has been extended to May 31, 2023.
  • The seven entities are Tianjin Phytium Information Technology, Shanghai High-Performance Integrated Circuit Design Center, Sunway Microelectronics, the National Supercomputing Center Jinan, the National Supercomputing Center Shenzhen, the National Supercomputing Center Wuxi, and the National Supercomputing Center Zhengzhou.
  • Defense Secretary Lloyd J. Austin III spoke to Chinese Minister of National Defense General Wei Fenghe for the first time under the Biden Administration.

The Chinese entities being flagged by the UVL overlap with those on the so-called Entity List and “military end-user” list, which include Hytera Communication Group (a supplier of professional mobile radio systems, also known as walkie-talkies) and the Southern University of Science and Technology in Shenzhen, according to SCMP. The US Securities and Exchange Commission (SEC) has added the social media company Sina Weibo to a list of companies for possible delisting under the Holding Foreign Companies Accountable Act (HFCAA). The addition follows the publication on March 10 of a provisional list of five Chinese companies for possible delisting from US stock exchanges (see Day 414 – ether trader 420 update). Meanwhile, Chair of the PCAOB Erica Y. Williams stated that “On paper, the agreement signed today grants the PCAOB complete access to the audit work papers, audit personnel, and other information we need to inspect and investigate any firm we choose”. The United States Trade Commission (USTR) announced it has extended a tariff exemption on 352 Chinese products. The exemption was due to expire at the end of 2022 and has been extended for another nine months, following a previous extension in March 2022.

Moreover, after China opened its financial markets to majority foreign ownership in 2020, Wall Street firms have poured $212 billion into Chinese bond markets. Potentially difficult negotiations with the Trump administration lie ahead, particularly if the US decides to use our security dependencies as leverage to wring concessions in trade. Japan has already disavowed linking security and trade, and their progress should be closely watched. Moreover, in its so-called “reciprocal” negotiations with other countries, the US is pressing trading partners to cut certain sensitive China-sourced goods from their exports destined for US markets.

Trade tensions have added urgency to China’s twin drives to boost domestic consumption and expand other export markets as the government looks for ways to offset the potential loss of American customers. Beijing would likely want to work toward closing the trade gap by buying high end American technology, much of which is now banned for sale there. Beijing has also stuck to its stance on fentanyl, calling the drug scourge the “US’s problem, not China’s” — even as further collaboration with Washington on curbing the production of chemicals that can be used to make the drug could help Beijing whittle down remaining US tariffs on its goods. Combined with fears of looming conflict, this predicament may help explain Xi’s interest in the recent summit, perhaps creating possibilities for altering some of Beijing’s policies. The United States—and the rest of the world—may have more leverage over Beijing’s behavior than they realize, despite the heated rhetoric emerging from Chinese media and diplomats. At the same time, some of China’s most productive sectors, such as technology, are seeing a concerted political assault due to fears of ideological corruption or of straying outside of party control.

Trump In Talks with Maduro’s Venezuela Over Oil, Migration, Democracy

It will also establish a program to help financial literacy for millennials Indo-Pacific countries develop infrastructure to counter China’s Belt and Road Initiative (BRI) and would expand the scope of the Committee on Foreign Investment in the US (CFIUS) to monitor relationships between Chinese and American educational institutions. The meeting was brokered by US national security adviser Jake Sullivan and China’s top foreign policy official Yang Jiechi, who reached an agreement after six hours’ meeting in Zurich. This came after Biden and Xi spoke by phone on September 9, 2021, only their second since Biden took office, seven months later after their first call. Updates to the State Department’s fact sheet on Taiwan, released on May 5, 2022, committed key language on the US’ official stance on Taiwan, including that the US “acknowledges the Chinese position that there is but one China and Taiwan is a part of China” and that it “does not support Taiwan independence”. 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”.

Trump calls Putin ‘crazy,’ warns of Russia’s ‘downfall’

Guo, the spokesperson for the Chinese Foreign Ministry, rejected Trump’s assertions suggesting progress toward a trade deal. “If they want to rebalance, let’s do it together,” he told an audience at the Institute of International Finance in Washington, D.C. Trump’s policies amounted to an “external push” toward realignment in U.S.-China trade, Bessent said. Meanwhile, Treasury Secretary Scott Bessent on the same day referred to a prospective U.S.-China trade agreement as “an opportunity for a big deal.” Bessent criticized China’s trade practices but also voiced a conciliatory tone. “This is a game of chicken,” Yasheng Huang, professor of global economics and management at MIT, told ABC News. Hours later, Chinese Foreign Ministry Spokesperson Guo Jaikun contradicted Trump’s account, dismissing it as “fake news.” The two sides have not discussed tariffs, Guo said.

The US-China Joint Glasgow Declaration on Enhancing Climate Action in the 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. US President Joe Biden and Chinese President Xi Jinping had their first virtual meeting on Monday evening US time (Tuesday morning China time). The meeting, which lasted more than three and a half hours, marked a conscious effort to smoothen US-China relations. The law allows the SEC to ban a foreign company from trading and delist the company from an exchange if the US Public Company Accounting Oversight Board (PCAOB) is not able to audit its requested reports for three consecutive years. According to the SEC chair Gary Gensler, more than 50 foreign jurisdictions have worked with the PCAOB to allow inspections, and China and Hong Kong are the only two jurisdictions that refuse to allow the inspections.

How Gen Z Thinks About Foreign Policy

At a press conference in Tokyo on Monday, May 23, US President Joe Biden stated that he would be willing to defend Taiwan militarily when asked by media, but added that “My expectation is it will not happen, it will not be attempted”. In the response to the remarks, Foreign Ministry Spokesperson Wang Wenbin stated in a press briefing that “China expresses strong dissatisfaction and firm opposition to the remarks by the US side” and “We urge the US side to abide by the one-China principle and the stipulations in the three China-US joint communiqués”. On Tuesday, May 24, President Biden then stated at the “Quad Leaders’ Summit” between leaders from Japan, India, and Australia that his statement did not amount to a change in the US’ stance or policy with regard to Taiwan. On Tuesday, June 13, Blinken had a conversation over the phone with China’s Foreign Minister Qin Gang, in which they also discussed “the importance of maintaining open lines of communication … to avoid miscalculation and conflict, addressed a range of bilateral and global issues”, according to the readout from the Department of State. In an announcement published on Sunday, the US Treasury Department confirmed that the secretary will travel to Beijing from July 6 to 9.

  • China’s Ministry of Commerce (MOFCOM) has updated the Catalog of China’s Prohibited and Restricted Technologies for Export, per an announcement.
  • In total, 27 entities and individuals located in China, Pakistan, Russia, Japan, and Singapore were added to the Entity List on November 24.
  • Some newly added firms are affiliates of companies that are already on the Entity List, including Hikmicro, a subsidiary of Hikvision, which was on the list in 2019.
  • Officials from the Biden administration have repeatedly said that the US’ stance on the One China policy has not changed.
  • The meetings were co-chaired by officials from the US Treasury Department (the “Treasury”) and the People’s Bank of China (PBOC), China’s central bank, and attended by officials from the US Federal Reserve, the Chinese Ministry of Finance (MOF), and other government agencies.

This meeting was therefore the first high-level meeting between Chinese and US officials since this incident. This is the latest in a string of meetings between US and Chinese officials, including a meeting between Chinese Diplomat Wang Yi Met with US National Security Advisor Jake Sullivan in Vienna at the beginning of May. These meetings indicate a concerted effort from both sides to rekindle bilateral communication following a fallout over the so-called “spy balloon” which ended in US Secretary of State Antony Blinken canceling a planned trip to China in February. The climate talks also come after a series of extreme weather events in both countries in 2023, adding to the urgency for bilateral cooperation and consensus on climate change. On Sunday, China set a new heat record of 52.2C in Xinjiang Province and has experienced a series of severe heat waves and flooding in recent weeks and months.

The US Department of Agriculture (USDA) is leading a delegation of officials and 17 exhibitors to this year’s China International Import Expo (CIIE) as part of the largest-ever delegation of US representatives since the event’s inauguration in 2018. Assistant Secretary of State for the Bureau of Arms Control, Verification, and Compliance (AVC) Mallory Stewart and Chinese Ministry of Foreign Affairs (MFA) Director-General of Arms Control Sun Xiaobo on Monday met for discussions on nuclear arms control and non-proliferation. The conclusion of the meetings coincided with the release by the MEE of a Methane Emissions Control Action Plan, a potential move to lay the groundwork for further discussions on methane reduction at COP28.

This was the first such bill passed into law by a US state, although the app had already been banned on government devices. The Protecting Americans from Foreign Adversary Controlled Applications Act, as the Bill is titled, would make it illegal for companies to distribute, maintain, update, or enable the distribution, maintenance, or updating of a “foreign adversary controlled” application within US territory. This would effectively ban application platforms such as App Store and Google Play, as well as network providers, from hosting the TikTok application in the US. The Biden administration argues that China’s subsidies and incentives to the domestic steel and aluminum industry artificially lower the prices of Chinese products, thereby undercutting US producers. The TikTok divestment bill, officially titled the Protecting Americans From Foreign Adversary Controlled Applications Act, was bundled into a larger foreign aid bill (H.R.815) that will see the US provide US$95 billion in aid to Ukraine, Israel, and Taiwan. The recommendation by the USTR comes at the conclusion of a statutory review of the Section 301 Tariffs, which were first imposed by the Trump Administration in 2018.