US, Chinese trade ministers commit to further talks in 2024 – World

SAN FRANCISCO: The United States and China plan to hold further talks on trade issues next year, the US Commerce Department said on Friday, pledging to continue high-level cooperation despite tensions.

The announcement came after US and Chinese Presidents Joe Biden and Xi Jinping met on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum this week in San Francisco.

US Commerce Secretary Gina Raimondo spoke about trade relations between the two countries with her Chinese counterpart Wang Wentao on Thursday after the Biden-Xi talks.

“During the meeting, they discussed the progress made under the Working Group on Commercial Issues and planned a face-to-face meeting in early 2024,” the Commerce Department said.

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The two sides will also hold technical talks on increasing the protection of trade secrets during the proceedings next January.

Tensions between the world’s two largest economies have risen in recent years as the two sides have clashed over issues ranging from human rights to export controls.

Washington says its export restrictions, which aim to reduce China’s access to advanced chips key to the development of artificial intelligence technology and cutting-edge weapons, are a national security measure.

But Beijing dismissed those concerns, and Xi told Biden this week that such actions hurt China’s “legitimate interests.”

So far, Raimondo’s planned talks follow her trip to Beijing in August and come despite differences between the two sides.

The Ministry of Commerce also plans to work with Chinese authorities to boost ties by reviving a tourism leadership summit scheduled to take place in Xi’an in May.

“Secretary Raimondo also emphasized that protecting national security is non-negotiable,” the Commerce Department said in a statement, adding that US controls are not designed to curb China’s growth.

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