Research & Analysis

On Wednesday, the fourth US-EU Trade and Technology Council (TTC) meeting took place in Luleå, Sweden. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, and US Trade Representative Katherina Tai engaged their EU counterparts on several issues, including the consolidation of supply chains, mechanisms for investment screening, export controls, and methods for handling non-market economies.

On Thursday, in a significant cabinet-level exchange between the United States and China, Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao convened in Washington DC. According to readouts, the two had a candid dialogue regarding trade, investment, and export policies.

China’s progress in implementing reforms to its IP system is among USCBC’s long-lasting focuses. As we continue advocating for more enforceable, effective IP protection on behalf of the American business community, we are writing to share noteworthy USCBC work and IP policy developments since the last update.

On April 26, the Standing Committee of the National People’s Congress adopted a revision of China’s Anti-Espionage Law (EN/CN) effective July 1.

On Thursday, it was announced that China’s Minister of Commerce Wang Wentao will meet with Commerce Secretary Gina Raimondo in Washington and with US Trade Representative  Katherine Tai in Detroit next week. Many have been expecting Tai and Wentao to meet, as Detroit is hosting the trade ministers of the Asia-Pacific Economic Cooperation (APEC) May 25 to 26.

National Security Advisor Jake Sullivan held eight hours of talks with China’s top diplomat, Wang Yi, over Wednesday and Thursday in Vienna in a step toward stabilizing relations. The previously undisclosed talks broke a period of relative silence between the two countries, following the Chinese surveillance balloon incident earlier this year.

On April 26, the Standing Committee of the National People’s Congress voted to adopt revised amendments to China’s Anti-Espionage Law (EN/CN). The amendments go into effect on July 1 and mark the first changes to the law since it was promulgated in 2014.

In an April 24 speech, Representative Ro Khanna (D-CA), a member of the new House Select Committee on the CCP, outlined his vision for the future of the US-China relationship.

In the first quarter of the year, China’s economy expanded by 4.5 percent, exceeding economists’ growth expectations of around 4 percent. The first quarter performance is a step toward reaching China’s 2023 growth target of 5 percent and is indicative of a return from its COVID-stunted economy.

On Wednesday, Senate Majority Leader Chuck Schumer (D-NY), accompanied by 12 Democratic committee chairs, announced plans for a Senate legislative package focused on China. Schumer urged his committee chairs to work with their Republican counterparts to draft bipartisan legislation that can be combined into a larger bill modeled after the bipartisan CHIPS and Science Act, which was passed last Congress.