• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, October 25, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

U.S., China establish new communication channels on trade dispute

Trade

The Matters Press by The Matters Press
August 31, 2023
Reading Time: 2 mins read
0
China, U.S end tariffs’ war

Foreign missions (Illustration)

Beijing, Aug. 31, 2023: During U.S. Secretary of Commerce Gina Raimondo’s four-day visit to China, the two sides announced the establishment of new communication channels, a working group to iron out various trade disputes said.

RELATED POSTS

Think tank blames historically poor management of resources on Nigeria’s high poverty prevalence

Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria

‎IMPI revises inflation rate projection to 14% from 17% for December

An export control information exchange to explain export curbs reasons to each other.

They also agreed to maintain regular communication, meeting at least once a year, thus keeping the door open for further negotiation and cooperation.

Raimondo’s visit, following a series of visits of U.S. Secretary of State Antony Blinken, U.S. Treasury Secretary Janet Yellen, and U.S. climate envoy John Kerry, has been widely regarded.

It is regarded as an “ice-thawing’’ trip for China-U.S. relations which had hit rock bottom.

Prior to the visit, Washington had removed 27 Chinese entities from its Unverified List, a step applauded by the Chinese side.

The gesture shows that America has been reassessing its detrimental China strategy.

Just as SkyBridge Capital founder Anthony Scaramucci said, regardless of whether the United States wants it or not, China has already become the world’s top manufacturing country.

It’s impossible for U.S. enterprises to rearrange their locations in the short term.

He noted that the U.S. should realise that China’s rise is beneficial to the world reducing the poverty population, enhancing global interdependence, and making the world more peaceful and prosperous.

That said, taking China as the “enemy’’ and imposing a lengthy list of sanctions against China is neither rational nor beneficial to U.S. employment and its consumers’ welfare from the international trade perspective.

It is also Washington’s wishful thinking to decouple from China as the global economy has become so deeply intertwined.

America’s imports from China shrank after the tariffs and sanctions were introduced five years ago, and the U.S. efforts to shift trade to its allies have brought some results.

However, trade between U.S. allies and China is rising, “suggesting that they are often acting as packaging hubs for what, in effect, remain Chinese goods,’’ said British weekly The Economist.

As for Washington’s chokehold on semiconductors, processor chips, AI, and quantum computing protection citing so-called national security concerns, the short-sighted move will only incentivise China’s technology.

And also the industry would form a sense of responsibility and urgency to achieve self-reliance at an early date.

The world has entered a new phase of turbulence and change.

China and America need to work in solidarity against daunting challenges such as sluggish economic recovery, weak and interrupted trade, financial instability, climate change, and mounting debt.

As the Chinese Ambassador to the United States, Xie Feng put it, the two sides should work in the same direction and lengthen the list of cooperation and shorten the negative list to stabilize China-U.S. relations.

This is hereby joining hands to properly address such global issues.

During talks with Chinese Premier Li Qiang, Raimondo voiced Washington’s willingness to strengthen cooperation with China on artificial intelligence, climate change, and combating fentanyl.

She also reiterated the pledge that the U.S. does not seek to decouple from China or hold China’s economy back.

The time is ripe for the U.S. side to live up to its words.

Tags: Trade
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Think tank blames historically poor management of resources on Nigeria’s high poverty prevalence

October 24, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria

October 22, 2025
NBS reports increase in Inflation
Economy/Technology

‎IMPI revises inflation rate projection to 14% from 17% for December

October 22, 2025
CSOs give  thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria
Agriculture

CSOs give thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria

October 22, 2025
Standing With the Bello Family – Justice Must Never Be Cheapened
Energy

Standing With the Bello Family – Justice Must Never Be Cheapened

October 17, 2025
You led with distinction, CG of Customs, hails former boss,  Mohammed at 80
Economy/Technology

You led with distinction, CG of Customs, hails former boss, Mohammed at 80

October 10, 2025
Next Post
Nigeria disburses N56bn to MSMEs

Moniepoint to promote financial inclusion for SMEs

Kano state’s gold souk to be completed 2022

Nigeria empowers 30 master jeweller trainees, moves against illegal mining

Recommended Stories

Consumer commission, CBN, EFCC investigate violations in money lending

CBN unveils “SabiMONI” platform to promote financial literacy

May 15, 2023
Infrastructure gulp N2,7tn in Nigeria

Bago to invest N1trn on infrastructure in Niger

September 13, 2023
Old pension scheme beneficiaries get a boost in entitlements

LASG pays 532 retirees N1.2bn, reassures on welfare

March 1, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think tank blames historically poor management of resources on Nigeria’s high poverty prevalence
  • Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria
  • ‎IMPI revises inflation rate projection to 14% from 17% for December

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us