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☆ Top US-China exchanges since Biden took office
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +5 min

Below is a list of some of the other high level U.S.-China exchanges since President Joe Biden took office in 2021. FIRST TRADE TALKS - May 26, 2021U.S. Trade Representative Katherine Tai and China's then Vice Premier Liu He held talks virtually, the first such high level trade talks between the world's two biggest economies since Biden took office. DIPLOMAT VISITS CHINA - July 26, 2021Deputy Secretary of State Wendy Sherman held talks with State Councillor Wang Yi, in Tianjin, China. DEFENCE CHIEFS HOLD FIRST TALKS - April 20, 2022U.S. Defense Secretary Lloyd Austin held a call with China's then defence minister Wei Fenghe, the first talks between the two officials since Biden took office. BIDEN AND XI MEET IN BALI - November 14, 2022Biden and Xi held their long-awaited first face-to-face leadership talks on the sidelines of the G20 summit in Bali, Indonesia.

Persons: Janet Yellen, John Kerry, Joe Biden, BIDEN, Biden, Xi Jinping, Xi, Jake Sullivan, Yang Jiechi, Wang Yi, Katherine Tai, China's, Liu, Wendy Sherman, SULLIVAN, YANG, Sullivan, Yang, Lloyd Austin, Wei Fenghe, WANG, Wang, Nancy Pelosi, HARRIS, Kamala Harris, Gina Raimondo, Wang Wentao, National Defense Li Shangfu, Li, BLINKEN, Antony Blinken, Washington's, Martin Quin Pollard, Raju Gopalakrishnan, Kim Coghill Organizations: . Treasury, U.S, FIRST, National Security, . Trade, CHIEFS, . Defense, General Assembly, BIDEN, IN, Economic Cooperation APEC, CHINA COMMERCE, . Commerce, Commerce, Washington D.C, China's, National Defense, Pentagon, Austin, BEIJING, Thomson Locations: China, Beijing, Yellen's, U.S, Anchorage , Alaska, Blinken, CHINA, Tianjin, Taiwan, North Korea, ROME, Russia, Ukraine, New York, IN BALI, Bali , Indonesia, BANGKOK, Asia, Thailand, MUNICH, Munich, WASHINGTON, Washington, Singapore

☆ Fmr. Commerce Secretary Carlos Gutierrez on U.S.-China relationship: Right now it's at rock bottom
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Commerce Secretary Carlos Gutierrez on U.S.-China relationship: Right now it's at rock bottomFormer Commerce Secretary Carlos Gutierrez joins 'Squawk Box' to discuss Treasury Secretary Janet Yellen's trip to China, U.S.-China relations at large, and more.

Persons: Carlos Gutierrez, Janet Yellen's Organizations: Commerce, U.S, Former Commerce Locations: China, U.S

☆ Factbox: Top US-China exchanges since Biden took office
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +5 min

Below is a list of some of the other high level U.S.-China exchanges since then. FIRST TRADE TALKS - May 26, 2021U.S. Trade Representative Katherine Tai and China's then Vice Premier Liu He held talks virtually, the first such high level trade talks between the world's two biggest economies since Biden took office. DIPLOMAT VISITS CHINA - July 26, 2021Deputy Secretary of State Wendy Sherman held talks with State Councillor Wang Yi, in Tianjin, China. DEFENCE CHIEFS HOLD FIRST TALKS - April 20, 2022U.S. Defense Secretary Lloyd Austin held a call with China's then defence minister Wei Fenghe, the first talks between the two officials since Biden took office. BIDEN AND XI MEET IN BALI - November 14, 2022Biden and Xi held their long-awaited first face-to-face leadership talks on the sidelines of the G20 summit in Bali, Indonesia.

Persons: Antony Blinken, Joe Biden, BIDEN, Biden, Xi Jinping, Xi, Jake Sullivan, Yang Jiechi, Wang Yi, Katherine Tai, China's, Liu, Wendy Sherman, SULLIVAN, YANG, Sullivan, Yang, Lloyd Austin, Wei Fenghe, WANG, Wang, Nancy Pelosi, HARRIS, Kamala Harris, Gina Raimondo, Wang Wentao, National Defense Li Shangfu, Li, Martin Quin Pollard, Raju Gopalakrishnan Organizations: U.S, FIRST, National Security, . Trade, CHIEFS, . Defense, General Assembly, BIDEN, IN, Economic Cooperation APEC, CHINA COMMERCE, . Commerce, Commerce, Washington D.C, China's, National Defense, Pentagon, Austin, Thomson Locations: China, U.S, Anchorage , Alaska, Blinken, CHINA, Tianjin, Taiwan, North Korea, ROME, Russia, Ukraine, Beijing, New York, IN BALI, Bali , Indonesia, BANGKOK, Asia, Thailand, MUNICH, Munich, WASHINGTON, Washington, Singapore

☆ House lawmakers urge US to rally allies over China Micron ban
▼ + stars: | 2023-06-02 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The move came a day after leaders of the G7 industrial democracies agreed to new initiatives to push back against Chinese economic coercion. McCaul and Gallagher urged Raimondo to work with Japan and South Korea to ensure that companies from those countries "do not take market share lost to the ban and undercut Micron." The lawmakers added that China "lashed out with an arbitrary economic embargo against one American company. Raimondo on Saturday said the United States will not tolerate China's action and is working closely with allies to address such "economic coercion." Reuters has reported Gallagher previously urged Raimondo to put trade curbs on Changxin Memory after Beijing's actions against Micron.

Persons: Joe Biden's, Michael McCaul, Mike Gallagher, Gina Raimondo, Gallagher, Raimondo, Saturday, McCaul, David Shepardson, Will Dunham Organizations: Micron Technology, Foreign Affairs Committee, Chinese Communist Party, . Commerce, Micron, Commerce Department, Embassy, Technologies, Reuters, Thomson Locations: Japan, South Korea, China, Washington, Beijing, United States, People's Republic of China, U.S

☆ EU, US to weigh China, AI, trade strains at high-level Sweden talks
▼ + stars: | 2023-05-30 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

U.S. Commerce Secretary Gina Raimondo, Trade Representative Katherine Tai and European Commission vice president and trade chief Valdis Dombrovskis will also take part. China will be a major focus of the meeting, even if the word "China" only features twice in the draft joint statement - on non-market practices and disinformation. The gathering in northern Sweden comes just as the European Commission presents its "Economic Security Strategy", expected to contain measures to prevent rivals such as China gaining access to its most sensitive technology. Brussels wants to see cooperation to boost green trade, such as mutual recognition of products, even though the U.S. and EU do not have and do not plan to forge a free-trade agreement. The EU is seeking progress with the U.S. towards an accord on critical minerals used for electric vehicles.

☆ China declines US request for a meeting between defense chiefs
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +3 min

[1/2] Chinese Defence Minister Li Shangfu attends a meeting with Russian President Vladimir Putin and Defence Minister Sergei Shoigu in Moscow, Russia, April 16, 2023. Sputnik/Pavel Bednyakov/Pool via REUTERSMay 29 (Reuters) - China has declined a request by the U.S. for a meeting between their defense chiefs at an annual security forum in Singapore this weekend, media reported on Monday, a new sign of strain between the powers. The Pentagon said it believed in open communication "to ensure that competition does not veer into conflict." Last week, White House spokesman John Kirby said there were discussions by the Defense Department to get talks going between Lloyd Austin and his Chinese counterpart, who was named defense minister in March. Li is a member of the Central Military Commission, China's top defense body that is commanded by President Xi Jinping.

☆ US 'won't tolerate' China's ban on Micron chips, commerce secretary says
▼ + stars: | 2023-05-28 | by ( David Lawder | ) www.reuters.com time to read: +2 min

DETROIT, May 27 (Reuters) - The United States "won't tolerate" China's effective ban on purchases of Micron Technology (MU.O) memory chips and is working closely with allies to address such "economic coercion," U.S. Commerce Secretary Gina Raimondo said on Saturday. These "target a single U.S. company without any basis in fact, and we see it as plain and simple economic coercion and we won't tolerate it, nor do we think it will be successful." Raimondo also raised the Micron issue in a meeting on Thursday with China's Commerce Minister, Wang Wentao. "The investments in the CHIPS Act are to strengthen and bolster our domestic production of semiconductors. Having said that, we welcome participation from companies that are in IPEF countries, you know, so we expect that companies from Japan, Korea, Singapore, etc, will participate in the CHIPS Act funding," Raimondo said.

☆ U.S.-led Indo-Pacific talks produce deal on supply chain early warnings
▼ + stars: | 2023-05-27 | by ( David Lawder | ) www.reuters.com time to read: +2 min

[1/5] U.S. Commerce Secretary Gina Raimondo speaks with delegates during the Indo-Pacific Economic Framework meeting in Detroit, Michigan U.S. May 27, 2023. The deal provides an emergency communications channel for IPEF countries to seek support during supply chain disruptions, coordinate more closely during a crisis and recover more quickly. It absolutely would have helped us secure American jobs and keep supply chains moving," she said. The supply chains agreement, led by Commerce, marks the first tangible outcome of a year's worth of IPEF discussions. The supply chains agreement also includes a new labor rights advisory board aimed at raising labor standards in supply chains, consisting of government, worker, and employer representatives, the Commerce Department said.

☆ U.S. 'won't tolerate' China's ban on Micron chips-Raimondo
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: 1 min

DETROIT, May 27 (Reuters) - The United States "won't tolerate" China's effective ban on purchases of Micron Technology (MU.O) memory chips and is working closely with allies to address such "economic coercion," U.S. Commerce Secretary Gina Raimondo said on Saturday. Raimondo told a news conference after a meeting of trade ministers in the U.S.-led Indo-Pacific Economic Framework talks that the U.S. "firmly opposes" China's actions against Micron. These "target a single U.S. company without any basis in fact, and we see it as plain and simple economic coercion and we won't tolerate it, nor do we think it will be successful." Reporting by David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ US, Taiwan reach deal on first part of '21st Century' trade pact
▼ + stars: | 2023-05-19 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, May 18 (Reuters) - The U.S. and Taiwan reached agreement on the first part of their "21st Century" trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative's office said on Thursday. After the initial agreement of the U.S.-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies and practices, USTR said. "We look forward to continuing these negotiations and finalizing a robust and high-standard trade agreement that tackles 21st Century economic challenges," Tai said. Announcement of the trade pact comes just ahead of planned meetings between China's commerce minister, Wang Wenta, and USTR Tai and U.S. Commerce Secretary Gina Raimondo. The bilateral talks commenced last August, after the Biden administration excluded Taiwan from its larger pan-Asian trade initiative, the Indo-Pacific Economic Framework.

☆ U.S., Taiwan reach deal on first part of '21st Century' trade pact
▼ + stars: | 2023-05-18 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, May 18 (Reuters) - The U.S. and Taiwan reached agreement on the first part of their "21st Century" trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative's office said on Thursday. After the initial agreement of the U.S.-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises and non-market policies and practices, USTR said. "We look forward to continuing these negotiations and finalizing a robust and high-standard trade agreement that tackles 21st Century economic challenges," Tai said. Announcement of the trade pact comes just ahead of planned meetings between China's Commerce Minister Wang Wentao and USTR Tai and U.S. Commerce Secretary Gina Raimondo. The bilateral talks commenced last August, after the Biden administration excluded Taiwan from its larger pan-Asian trade initiative, the Indo-Pacific Economic Framework.

WASHINGTON, April 29 (Reuters) - At a summit on Monday, U.S. President Joe Biden and Philippines counterpart Ferdinand Marcos Jr are expected to reach agreements on greater business engagement, as well as "military enhancements" amid shared concerns about China, a senior Biden administration official told Reuters. Marcos is due in the United States on Sunday for a four-day visit that Philippines official say is aimed at reaffirming the special relationship between the Philippines and the United States, which are long-time allies. The senior U.S. administration official said it was impossible to underestimate its strategic importance of the Philippines, although the relationship was more than just about security. "We will roll out some deliverables during the next week that will highlight business engagement but also some military enhancements as well," he said on Saturday. The official said that as part of moves to boost commercial ties, U.S. Commerce Secretary Gina Raimondo would a lead a presidential business delegation to the Philippines.

WASHINGTON, April 28 (Reuters) - The Biden administration outlined efforts this week to address growing U.S. national security concerns on foreign companies' handling of Americans' data. Concerns about Chinese-owned TikTok have sparked new efforts in Congress to boost powers to address it or potentially ban the popular short video sharing app. Under Commerce Secretary for Industry and Security Alan Estevez was among those addressing information and communications technology supply (ICTS) chain threats, the department said. "I think it is a top priority and we need to move with urgency," U.S. Commerce Secretary Gina Raimondo said at a Senate hearing on Wednesday of the legislative effort. Days before then President Donald Trump left office in 2021, the Commerce Department issued aimed at addressing ICTS concerns posed by China, Russia, Iran, North Korea, Cuba and Venezuela.

☆ EUROPE US recession worries weigh in Asia
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Kevin BucklandEurope wakes up to more weakness in equities after stock markets across Asia took cues from Wednesday's slump on Wall Street. But perhaps reassuringly, financials fared relatively better in markets including Hong Kong and Tokyo, suggesting little fear of widening contagion from First Republic's woes. Technology shares in the region didn't benefit much from Microsoft's earnings boost though, which had buoyed the Nasdaq. Meanwhile, the United States continued to cozy up to long-time regional allies South Korea and Japan. Away from geopolitics, the Bank of Japan began its first policy meeting with new governor Kazuo Ueda at the helm.

☆ Asian shares sink on banking jitters, US economic concerns
▼ + stars: | 2023-04-27 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) were 0.3% lower on Thursday, while Japan's Nikkei (.N225) lost 0.4%. Data showed that new orders for key U.S.-manufactured capital goods fell more than expected in March, suggesting that business spending on equipment was likely a drag on economic growth in the first quarter. Wells Fargo lowered its forecast for U.S. GDP growth by 100 basis points to a 0.8% rise. The dollar index , which measures the currency against six major rivals, dropped to 101.4 on fresh concerns over a U.S. slowdown. U.S. crude futures edged up 0.3% to $74.5 per barrel, while Brent crude futures rose 0.5% to $78.09 per barrel.

☆ US official says Chinese cloud companies like Huawei could pose threat
▼ + stars: | 2023-04-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, April 26 (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Wednesday that Chinese cloud computing companies like Huawei Cloud and Alibaba Cloud (9988.HK) could pose a threat to U.S. security and vowed to review a request to add them to an export control list. A group of nine Republican senators on Tuesday urged the Biden administration to impose sanctions on Huawei Technologies Co's (HWT.UL) cloud unit, Alibaba Cloud and other Chinese cloud service providers. They want Raimondo to add the companies to the Entity List, which imposes U.S. export controls on foreign companies. Raimondo said the Chinese cloud companies could pose a threat. In May 2019, the Commerce Department added Huawei to the export control list over U.S. security concerns.

REUTERS/Anna KudriavtsevaWASHINGTON, April 14 (Reuters) - Ukraine secured promises of $5 billion in additional funding to support its ongoing fight against Russia amid "fruitful meetings" in Washington this week, Ukrainian Prime Minister Denys Shmyhal told reporters on Friday. Shmyhal met with representatives of the International Monetary Fund, the World Bank and the European Investment Bank as well as top U.S. officials, on the sidelines of the spring meetings of the IMF and World Bank. Ukraine needs about $14 billion in funding this year to close a budget gap, Shmyhal said, noting that the United States would provide $2.3 billion to plug the hole, while the European Union would provide 1 billion euros ($1.10 billion). The IFC program aims to leverage these donor funds using private sector investments, which will be needed to help cover the staggering cost of Ukraine's recovery. "A strong private sector is essential to help Ukraine's economy recover and support reconstruction efforts," said Makhtar Diop, the IFC's managing director.

☆ TikTok hits 150 mln U.S. monthly users, up from 100 million in 2020
▼ + stars: | 2023-03-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 20 (Reuters) - TikTok said on Monday the short-video sharing app now has 150 million monthly active users in the United States, up from 100 million it said it had in 2020. On Friday, six more U.S. senators backed bipartisan legislation to give President Joe Biden new powers to ban TikTok on national security grounds. Last week, TikTok said the Biden administration demanded that its Chinese owners divest their stake in the app or it could face a U.S. ban. "This notional idea that the data can be made safe under (Chinese Communist Party) law, just doesn't, doesn't pass the smell test." Some TikTok content creators will come to Washington this week to make the case why the app should not be banned.

☆ U.S. seeks closer India tech ties; no China "decoupling"- U.S. commerce secretary
▼ + stars: | 2023-03-10 | by ( Shivangi Acharya | ) www.reuters.com time to read: +2 min

NEW DELHI, March 10 (Reuters) - India could become a key supplier of electronic parts and hardware for the United States, U.S. Commerce Secretary Gina Raimondo said on Friday, adding that Washington was not seeking a "technological decoupling" from China. "We want to deepen our technology relationship with India," she said after both countries signed a memorandum of understanding to cooperate in the semiconductor sector. India has been seeking to attract more investment in the chipmaking and display sector under a $10 billion incentive plan. She also said she would announce a number of "substantial investments" by U.S. firms in India, without giving any details. Reporting by Shivangi Achary; writing by Miral Fahmy; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ India, US to sign memorandum of understanding on semiconductors
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, March 9 (Reuters) - The United States and India will sign a memorandum of understanding on semiconductors as both countries discuss coordination of investment and continue dialogue around policies to spur private investment, U.S. Commerce Secretary Gina Raimondo said on Thursday. Raimondo, who is on a four-day trip to India, is accompanied by the chief executive officers of 10 U.S. companies and is scheduled to meet India's trade minister on Friday. The two nations will map the semiconductor supply chain together and identify opportunities for joint ventures and technology partnerships, Raimondo added. Last year, the South Asian nation raised fiscal support for new local semiconductor facilities to cover 50% of project costs. Reporting by Shivangi Acharya, writing by Tanvi Mehta; Editing by Toby Chopra and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ US-China decoupling stems from economic and security issues 'bleeding together,' says Penny Pritzker
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUS-China decoupling stems from economic and security issues 'bleeding together,' says Penny PritzkerPenny Pritzker, former U.S. Commerce Secretary and PSP Partners founder and chairman, joins 'Squawk Box' to discuss International Women's Day, Pritzker's thoughts on the decoupling of China and the United States and more.

☆ Companies that give up stock buybacks for 5 years will get preferential treatment in $52 billion CHIPS program, Commerce Secretary Raimondo says
▼ + stars: | 2023-03-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — U.S. Commerce Secretary Gina Raimondo said companies that voluntarily agree to forgo stock buybacks for five years will get preferential treatment when the agency doles out $52 billion authorized under the CHIPS and Science Act. Raimondo said stock buybacks is one factor being taken into consideration as part of a $39 billion manufacturing subsidy program. The law also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion. Beyond that, we're giving a preference to companies who voluntarily say they won't do a buyback for five years," Raimondo told CNBC's Sara Eisen on Monday. The Commerce Department began accepting applications for CHIPS funding at the end of February.

☆ As India Shakes Off Shackles, It Emerges as Global Economic Power
▼ + stars: | 2023-02-23 | by ( Greg Ip | ) www.wsj.com time to read: +1 min

India is expected to formally displace China as the world’s most populous country. In fact, 2023 could be the year India finally emerges as a global economic heavyweight. For that, thank the cumulative effect of solid economic growth, microeconomic reform and a changed geopolitical environment that has the West more eager than ever to draw India into its orbit. Just this week, nine Democratic senators and Treasury Secretary Janet Yellen came through India, the latter for a summit of the Group of 20 economies, which India is hosting this year. Commerce Secretary Gina Raimondo and Secretary of State Antony Blinken are close behind.

WASHINGTON, Feb 23 (Reuters) - U.S. Commerce Secretary Gina Raimondo on Thursday said the government will encourage companies to build at least two advanced domestic computer chip factories employing thousands of union workers, as part of a $52.7 billion dollar initiative. The centers would also include a "robust supplier ecosystem," Raimondo said in a speech in Washington. "America needs to design and produce the world's most advanced chips right here in America," Raimondo said, adding that the United States leads in design but not manufacturing. Raimondo said the department planned to invest $11 billion in semiconductor research and development, including the creation of a public-private partnership she called the National Semiconductor Technology Center. The United States has some chip production, and signs of expansion despite a very tight labor market.

☆ U.S. welcomes EU draft decision on data privacy -Commerce Secretary
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. Secretary of Commerce Gina Raimondo speaks about semiconductor chips subsidies during a press briefing at the White House in Washington, U.S., September 6, 2022. REUTERS/Kevin Lamarque/File PhotoWASHINGTON, Dec 14 (Reuters) - The United States welcomed the European Union's draft decision on data privacy as a critical next step, U.S. Commerce Secretary Gina Raimondo said on Wednesday, as the two parties try to seal a data transfer pact. The draft decision, Raimondo said, "represents a critical next step to fully address" the concerns of the Court of Justice of the European Union, which in 2020 struck down the previous EU-U.S. Privacy Shield framework as a valid data transfer mechanism under EU law. "We are closely reviewing the draft decision," Raimondo said in a statement. The European Commission's justice chief Didier Reynders said the draft adequacy decision shows that U.S. safeguards offer the same level of data protection to EU citizens as that under European law.

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