The Trump administration is now opening up the public to comment on a proposal to establish a US-China Trade Board, a new initiative aimed at managing economic relations between the United States and China in a more orderly manner.
The move comes after Trump and Chinese President Xi Jinping met in Beijing last month. During the meeting, the two leaders agreed to establish a Trade Board and an Investment Board as special channels to discuss trade, investment and economic cooperation between the two countries.
According to US Trade Representative Jamieson Greer, one of the main focuses of the board is to reduce tariffs on US$30 billion worth of goods that are considered non-sensitive.
He believes there are still many products that can be traded more freely without raising security concerns or strategic interests for either party.
The proposal comes as trade relations between Washington and Beijing are still in the recovery phase after a tariff war that has caused major tensions over the past few years.
While the two countries are now enjoying a more stable relationship than ever before, other issues continue to cloud their relationship, including geopolitical tensions and intensifying economic competition.
At the same time, Trump is also looking to reinvigorate his tariff policy after several previous moves faced legal challenges. His administration has initiated several new trade investigations and implemented a global tariff of 10% on certain imports.
Overall, the establishment of the US-China Trade Board is seen as an effort to create more consistent communication between the world’s two largest economies.
While its effectiveness remains to be seen, the move gives the impression that the two countries are trying to reduce friction and find common ground in their trade relationship.
