The U.S. and China agreed to set up new channels of communication for economic and commercial issues, Commerce Secretary Gina Raimondo said Monday, including a new bilateral forum to discuss export control measures to reduce misunderstanding of national security policies.
The agreement, reached during a four-hour meeting between Raimondo and Chinese Commerce Minister Wang Wentao, is aimed at easing tensions that followed Washington’s step to restrict China-bound exports of advanced semiconductors and equipment in October.
That action led to retaliation from Beijing, including a ban on some chip-making materials and the sale of products made by U.S. chip maker Micron Technology.
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