AIRLINK 74.00 Decreased By ▼ -0.56 (-0.75%)
BOP 5.02 Decreased By ▼ -0.04 (-0.79%)
CNERGY 4.42 Decreased By ▼ -0.04 (-0.9%)
DFML 39.20 Decreased By ▼ -0.53 (-1.33%)
DGKC 86.09 Decreased By ▼ -1.46 (-1.67%)
FCCL 21.65 Decreased By ▼ -0.28 (-1.28%)
FFBL 34.01 Decreased By ▼ -0.58 (-1.68%)
FFL 9.92 Increased By ▲ 0.17 (1.74%)
GGL 10.56 Increased By ▲ 0.07 (0.67%)
HBL 113.89 Increased By ▲ 0.10 (0.09%)
HUBC 135.84 Decreased By ▼ -0.68 (-0.5%)
HUMNL 11.90 Increased By ▲ 1.00 (9.17%)
KEL 4.84 Increased By ▲ 0.17 (3.64%)
KOSM 4.53 Decreased By ▼ -0.11 (-2.37%)
MLCF 38.27 Decreased By ▼ -0.19 (-0.49%)
OGDC 134.85 Decreased By ▼ -1.29 (-0.95%)
PAEL 26.35 Decreased By ▼ -0.26 (-0.98%)
PIAA 20.80 Decreased By ▼ -1.69 (-7.51%)
PIBTL 6.68 Increased By ▲ 0.01 (0.15%)
PPL 123.00 Increased By ▲ 0.71 (0.58%)
PRL 26.69 Decreased By ▼ -0.28 (-1.04%)
PTC 14.33 Increased By ▲ 0.42 (3.02%)
SEARL 59.12 Decreased By ▼ -0.75 (-1.25%)
SNGP 69.50 Decreased By ▼ -0.56 (-0.8%)
SSGC 10.33 Decreased By ▼ -0.02 (-0.19%)
TELE 8.50 Decreased By ▼ -0.04 (-0.47%)
TPLP 11.23 Decreased By ▼ -0.11 (-0.97%)
TRG 64.85 Decreased By ▼ -1.15 (-1.74%)
UNITY 26.25 Decreased By ▼ -0.08 (-0.3%)
WTL 1.34 Decreased By ▼ -0.01 (-0.74%)
BR100 7,851 Increased By 26.3 (0.34%)
BR30 25,337 Decreased By -69.2 (-0.27%)
KSE100 75,207 Increased By 122.8 (0.16%)
KSE30 24,143 Increased By 49.1 (0.2%)

BEIJING: US commerce secretary Gina Raimondo will visit China next week, Beijing and Washington said Tuesday, adding to a slew of US officials dispatched in recent months to ease tensions between the world’s largest economies.

Washington says it is seeking to better manage its frosty relations with China, with the two powers at loggerheads over everything from trade to human rights and Taiwan.

“Secretary Raimondo looks forward to constructive discussions on issues relating to the US-China commercial relationship, challenges faced by US businesses, and areas for potential cooperation,” the US Department of Commerce said in a statement.

She will travel to both Beijing and Shanghai during the August 27 to 30 trip, Washington said.

WTO rules against China retaliatory tariffs on US imports

Beijing also confirmed the visit, adding that Raimondo has been invited by her Chinese counterpart Wang Wentao.

Her visit will build on an agreement between Presidents Xi Jinping and Joe Biden in Bali last year “to deepen communication between the US and the PRC on a range of issues,” Washington said.

Relations between Washington and Beijing have plummeted to some of their worst levels in decades, with Washington’s trade curbs among the top of the laundry list of disagreements.

Washington says its restrictions are crucial to safeguarding national security, while Beijing sees them as hampering its economic rise.

This month, Biden issued an executive order aimed at restricting certain American investments in sensitive high-tech areas in China – a move Beijing blasted as being “anti-globalization”.

The long-anticipated rules, expected to be implemented next year, target sectors like semiconductors and artificial intelligence.

US Treasury Secretary Janet Yellen had sought to reassure Chinese officials about the expected curbs during a visit to Beijing last month, promising any new moves would be implemented in a transparent way.

She stressed the need for healthy economic competition and improved communication and urged cooperation on the grave threat posed by climate change.

But she also said she had raised serious concerns over what she called unfair economic practices by Beijing as well as issues around the protection of intellectual property.

Steadying ties

In June, US Secretary of State Antony Blinken travelled to Beijing, where he met Xi and said progress had been made on a number of key sources of contention.

Neither Yellen’s nor Blinken’s visit led to major breakthroughs, and a recent Camp David summit and statement between the US, South Korea and Japan aimed, in part, at countering Beijing sparked condemnation from China.

Following that summit, President Biden said he still expects to meet Chinese leader Xi again this year.

Biden is inviting Xi in November to San Francisco when the United States holds a summit of the Asia-Pacific Economic Cooperation forum, which includes China.

The two leaders could potentially also meet next month in New Delhi on the sidelines of a summit of the Group of 20 major economies.

Comments

Comments are closed.