China, US Hold Vice-Ministerial Discussions On Business Issues
(MENAFN- Kuwait News Agency (KUNA))
BEIJING, Sept 7 (KUNA) -- China raised concerns over Washington's Section 301 tariffs, investigations targeting Chinese companies, as well as deploying investment restrictions.
This came during a meeting co-chaired by China's International Trade Representative and Vice Minister of Commerce Wang Shouwen, and U.S. Under Secretary of Commerce for International Trade Marisa Lago, held in Tianjin, near Beijing, on Saturday.
China News Agency (Xinhua) said in a press statement that Wang Shouwen and Marisa Lago co-chaired the second vice-ministerial meeting of the China-U.S. Commercial and Trade Working Group, engaging in professional, rational, and pragmatic discussions on policy and business matters.
The statement stated that both sides agreed to provide necessary support for trade and investment promotion activities in both countries, maintain communication on cross-border data flows, inspection and quarantine, healthcare, women's health, medical devices, and clean energy, and continue facilitating cooperation between Chinese and U.S. businesses by establishing additional project offices.
Furthermore, both sides aim to strengthen collaboration within frameworks such as the Group of 20 and Asia-Pacific Economic Cooperation adding that the commerce departments of both countries are willing to maintain dialogue with businesses and listen to their feedback.
Under Section 301 of the 1974 Trade Act, the U.S. can impose trade sanctions and retaliatory tariffs on countries that violate trade agreements or engage in 'unjustifiable' practices. (end)
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