US-China ‘Board of Investment’ stalls before expected Trump-Xi meeting
The US-China Board of Investment, one of the key outcomes of the May summit between US President Donald Trump and Chinese leader Xi Jinping, is unlikely to be among the deliverables for their expected meeting next month in Washington, according to the head of a leading bilateral business group. “I’m not seeing evidence yet that that’s going to be a sizeable deliverable for the next summit,” Sean…
The US-China Board of Investment, established in May as part of the Trump-Xi summit, is unlikely to be a significant outcome of their expected meeting next month in Washington, according to the head of a leading bilateral business group. Sean Stein, president of the US-China Business Council, stated that neither side has initiated the consultation process for the board, indicating a lack of readiness for discussions with the private sector.
The delay in the board's formation is attributed to differing views in the administration and Congress on the benefits and risks of increased Chinese foreign direct investment in the US, with some advocating for potential opportunities while others remain circumspect. Meanwhile, negotiations on the Board of Trade, another outcome of the summit, are progressing, with both sides focusing on finalizing non-sensitive sectors and products eligible for tariff-free trade capped at US$30 billion each.
Brief written by urgent.news from Reuters Business via SCMP's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
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