After Biden-Xi Jinping Summit, US-China Trade Talks Also Fully Resume

U.S. President Joe Biden (right) held the first face-to-face summit between the U.S. and China with Chinese President Xi Jinping in Bali, Indonesia, on the 14th (local time), shaking hands. [Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] Following the summit between U.S. President Joe Biden and Chinese President Xi Jinping, trade negotiations between the two countries have also officially resumed.

According to the U.S. Trade Representative (USTR), Katherine Tai, USTR Representative, and Wang Wentao, Minister of Commerce of China, met on the 18th (local time) in Bangkok, Thailand, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit to discuss trade issues.

This was the first face-to-face meeting between Representative Tai and a senior Chinese official since her appointment in 2021, and the meeting took place just five days after the U.S.-China summit.

Representative Tai and Vice Minister Wang Wentao agreed to maintain a high-level communication channel in the trade sector and to exchange views on international trade and bilateral trade.

It is reported that no new directions were discussed at this meeting to fundamentally resolve trade progress or trade conflicts between the two countries. However, the fact that dialogue has resumed in trade amid the escalating all-out conflicts between the two countries is seen as a positive development.

The U.S. Wall Street Journal (WSJ) noted that this meeting signifies the resumption of the highest-level trade negotiations between the world's two largest economic powers.