China and the US will hold talks on economic and trade issues in the near future: reports
US-China relations are moving forward (Photo: Reuters)
Chinese Commerce Minister Wang Wentao and his US counterpart will make a call on trade and economic ties in the near future, China’s state news agency Xinhua reported on Tuesday, citing people familiar with the matter.
They will exchange views on bilateral economic and trade relations and on key issues of mutual interest, including restrictions on electric vehicles (EVs), Xinhua reported.
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During a two-day working group meeting in Beijing last month with a U.S. delegation, Chinese officials expressed “serious” concerns about additional U.S. tariffs, investment restrictions and Russia-related sanctions.
A new round of US tariffs on $18 billion of Chinese goods including electric cars, EV batteries and solar panels came into effect in late September, with lithium-ion batteries bearing the brunt of the duties by value. The US imports almost no Chinese electric vehicles.
The tariffs were imposed following an investigation by the U.S. Trade Representative’s office of duties previously imposed by former U.S. President Donald Trump.
The Biden administration said the tariffs were aimed at strengthening protection of strategic domestic industries from China’s state-driven excess manufacturing capacity. Beijing has vowed retaliation.
China could also be hit by additional EV tariffs from the European Union, which is expected to vote on introducing permanent duties in October.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First publication: Oct 01, 2024 | 2:19 PM IST