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U.S. officials set to visit China for economic discussions amid rising trade tensions

Posted on August 16, 2024 |

Senior Biden administration officials are heading to Shanghai this week for important meetings to maintain stable U.S.-China economic relations amid rising trade tensions.

The discussions, set for Thursday and Friday, are organized by the U.S.-China Financial Working Group, formed last year.

While communication between the U.S. and China has improved recently, economic relations are still strained due to disagreements on industrial policy and China’s leading role in green energy technology.

New U.S. tariffs were imposed in May on Chinese imports, including electric vehicles, solar cells, semiconductors, and advanced batteries.

The U.S. is also restricting investments in Chinese sectors that are seen as potential national security risks.

The Biden administration is urging China to stop exporting chemicals used in fentanyl production, which are being smuggled into the U.S.

These talks aim to address ongoing economic and trade issues and improve cooperation between the two countries.

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