US-China relations: Premier Li tells American firms there is room for cooperation, despite frosty diplomatic ties

The American multinationals at the meeting stressed that the new era of US-China relations would be defined by economic competition and that frank communication could offset the risk of confrontation, according to a statement from Craig Allen, president of business lobbying group US-China Business Council, who attended the event. “During the meeting with Premier Li, we emphasised the importance of fully implementing China’s announced economic reform agenda and fulfilling its phase one [trade deal] commitments, which will demonstrate goodwill to the new US administration,” Allen said.