US-China Resume Biannual Comprehensive Economic Dialogue... 'Separate from Phase 2 Trade Negotiations'

[Asia Economy Reporter Naju-seok] The United States and China, which have been engaged in a trade dispute, have agreed to resume the annual 'Comprehensive Economic Dialogue,' the Wall Street Journal (WSJ) reported on the 11th (local time). It is expected that opportunities for communication between the U.S. and China on economic issues such as trade will increase.

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The U.S. and China are scheduled to hold the 'Phase One Trade Agreement Signing Ceremony' on the 15th, during which the resumption of the U.S.-China Comprehensive Economic Dialogue is also expected to be announced.

The U.S.-China Comprehensive Economic Dialogue has served as a communication channel at the leadership level between the U.S. and China on trade and economic matters. It was held once in July 2017 after the inauguration of U.S. President Donald Trump but ended without significant achievements. It has been suspended for more than two years since then. In fact, this U.S.-China Comprehensive Economic Dialogue is predicted to operate similarly to the 'Strategic Economic Dialogue' established in 2006 by then U.S. President George W. Bush and President Hu Jintao to promote economic goodwill between the two countries.

However, the U.S.-China Comprehensive Economic Dialogue is expected to proceed separately from the Phase Two trade negotiations. The Phase Two trade talks are likely to discuss improvements in China's economic policies. WSJ introduced that issues such as corporate subsidies and activities of Chinese state-owned enterprises are expected to be key points.

President Trump also threatened that the Phase Two trade agreement could continue until after the U.S. presidential election in November this year.

WSJ reported, citing U.S. administration officials, that behind the resumption of the Comprehensive Economic Dialogue were efforts by U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He.

This content was produced with the assistance of AI translation services.