US, China in talks on challenges facing American businesses

Before her journey to China the next week, US Commerce Secretary Gina Raimondo met with the Vice Foreign Minister and Chinese Ambassador late on Tuesday and had a “productive discussion.”

US Commerce Secretary Raimondo also emphasized the significance for US businesses and workers while describing the meeting’s specifics.

The news also states the policymakers’ discussion about issues relating to the US–China commercial ties and the challenges faced by US businesses, as well as the areas for potential cooperation.

Earlier in the week, the US Commerce Department’s Bureau of Industry and Security (BIS) removed 27 Chinese entities from its Unverified List, removing sanctions from those entities and flagged hopes of the improving US-China ties.

The news seems to have underpinned the latest pause in the risk aversion and put a floor under the AUD/USD prices, edging higher to 0.6425 by the press time of early Wednesday morning in Asia.