• U.S. and China trade representatives hold first phone call under Biden

Market news

27 May 2021

U.S. and China trade representatives hold first phone call under Biden

CNBC reports that China’s Ministry of Commerce said that the leaders of trade talks between the U.S. and China held their first call Thursday under U.S. President Joe Biden’s administration.

U.S. Trade Representative Katherine Tai and Chinese Vice Premier Liu He had a “candid, pragmatic and constructive” conversation, the ministry said.

The statement did not share any details on developments for trade, or whether tariffs applied under the Trump administration would be rolled back.

However, the ministry said both sides agreed to further communication and characterized the call as one bearing an attitude of “mutual respect.” Beijing often uses the phrase when calling for more favorable communication with the U.S.

In a separate statement, the USTR’s office said Tai discussed the administration’s “worker-centered trade policy and her ongoing review of the U.S.-China trade relationship, while also raising issues of concern.”

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