Thu, 05 Aug 2021

WASHINGTON D.C.: Amid disagreements, top U.S. and Chinese commerce officials have agreed to promote healthy trade and cooperate over differences, China's commerce ministry said on Thursday, as part of the latest high-level exchange held via telephone.

"They agreed to promote the healthy development of trade and investment and cooperate in a pragmatic way to handle their differences," the Chinese ministry said.

Both countries recognize the importance of business exchanges and will keep lines of communication open, the Chinese statement said, after Commerce Minister Wang Wentao spoke with U.S. Commerce Secretary Gina Raimondo.

Earlier this month, Chinese Vice Premier Liu spoke with U.S. Treasury Secretary Janet Yellen, and late last month Liu held a similarly "candid" exchange of views with U.S. Trade Representative Katherine Tai.

The world's two largest economies continue to spar on various fronts, with the U.S. Senate this week approving legislation aimed at boosting the country's ability to compete with Chinese technology, drawing sharp criticism from Beijing.

However, President Joe Biden on Wednesday withdrew several Trump-era executive orders that sought to ban new downloads of popular Chinese-owned WeChat and TikTok, and asked the Commerce Department to review security concerns posed by those apps.

In a Thursday editorial, the official China Daily said that the U.S. technology legislation is "really deployment for the Cold War."

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