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DETROIT – US Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao exchanged barbs on trade, investment and export policies in talks on Thursday described by Ms Raimondos office as candid and substantive.

Their meeting in Washington was the first US-China Cabinet-level exchange in months, after a string of trade and national security irritants derailed plans for re-engagement between the worlds two largest economies.

The two had candid and substantive discussions on issues relating to the US-China commercial relationship, including the overall environment in both countries for trade and investment and areas for potential cooperation, the US Commerce Department said in a statement.

Secretary Raimondo also raised concerns about the recent spate of PRC (Peoples Republic of China) actions taken against US companies operating in the PRC, it added.

Mr Wang raised key concerns about United States policies towards China, including on semiconductors, export controls and reviews of foreign investments, a Chinese Commerce Ministry statement said.

Both sides agreed to establish and maintain open communication channels, with Ms Raimondos office saying that would help responsibly manage the relationship.

Chinas Commerce Ministry said the communications would allow exchanges on specific economic trade concerns and cooperation matters.

Mr Wang is also expected to meet US Trade Representative Katherine Tai on the sidelines of an Asia-Pacific Economic Cooperation trade ministers meeting in Detroit that wraps up on Friday.

US President Joe Biden and Chinese President Xi Jinping pledged more frequent communication at a Group of 20 summit in Indonesia last November to avoid US-China tensions from spilling into a new Cold War.

But those plans suffered several setbacks, starting with the downing of an alleged Chinese spy balloon in US coastal waters.

These irritants continued through on Sunday, when Group of Seven (G-7) leaders pledged to resist Chinas economic coercion and Beijing responded by declaring US memory chipmaker Micron Technology a national security risk, banning its sales to key domestic industries.

The ban followed a series of raids on American consultancies in China.

On Monday, Mr Wang met representatives of American companies in Shanghai, including Johnson & Johnson, 3M, Dow, Merck and Honeywell, according to Chinas Commerce Ministry, telling them that China will continue to welcome US-funded enterprises to develop in China and achieve win-win results.

China has complained about the growing number of US export restrictions on advanced semiconductors and high technology goods that could have military applications and security reviews that discourage Chinese investment in the US.

Mr Wangs trip to the US comes after Group of Seven (G-7) leaders met in Hiroshima, Japan, at which Mr Biden and other G-7 leaders said they would de-risk without decoupling from the worlds second-largest economy in everything from chips to minerals.

Ms Raimondo, Secretary of State Antony Blinken and Treasury Secretary Janet Yellen have all expressed interest in visiting China. REUTERS More On This Topic Biden sees thaw in US-China ties shortly, says G-7 wants to de-risk, not decouple US and China not in Cold War, reality is more complex: Experts at Singapore forum

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Elon Musk steps up attacks on Trump once again – as the president fights back

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Elon Musk steps up attacks on Trump once again - as the president fights back

Elon Musk has stepped up his attacks on Donald Trump’s sweeping tax and spending bill – weeks after a spectacular fallout between the world’s richest man and the US president.

Following weeks of relative silence after clashing with Mr Trump over his “big beautiful bill”, the billionaire vowed to unseat politicians who support it.

In a post on X, Musk said those who had campaigned on cutting spending but then backed the bill “should hang their heads in shame”.

He added: “And they will lose their primary next year if it is the last thing I do on this Earth.”

Musk also threatened to put their faces on a poster which said “liar” and “voted to increase America’s debt” by $5trn (£3.6trn).

The posts attracted a swift reply from Mr Trump, who claimed the billionaire “may get more subsidy than any human being in history” for his electric car business.

“Without subsidies, Elon would probably have to close up shop and head back home to South Africa,” he wrote on Truth Social.

“No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!”

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Elon’s dad on the Musk-Trump bust-up

Musk spent at least $250m (£182m) supporting Mr Trump in his presidential campaign and then led the newly formed Department of Government Efficiency (DOGE), which sacked about 120,000 federal employees.

He has argued the legislation would greatly increase the US national debt and wipe out the savings he claimed he achieved through DOGE.

As the Senate discussed the package, Musk called it “utterly insane and destructive”.

The Tesla and SpaceX CEO said the bill’s massive spending indicated “we live in a one-party country – the PORKY PIG PARTY!!”

“Time for a new political party that actually cares about the people,” he wrote.

Read more from Sky News:
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Musk previously said some of his social media posts during his dramatic fallout with Mr Trump “went too far”.

He had shared a series of posts on X, including one that described Mr Trump’s tax and spending bill as a “disgusting abomination”.

He also claimed, in a since-deleted post, that the president appeared in files relating to the disgraced paedophile financier Jeffrey Epstein.

But Musk later wrote: “I regret some of my posts about President @realDonaldTrump last week. They went too far.”

In response, the president told the New York Post: “I thought it was very nice that he did that.”

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What’s in Trump’s ‘Big Beautiful Bill’?

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What's in Trump's 'Big Beautiful Bill'?

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Martha Kelner and Mark Stone break down what’s in Donald Trump’s huge tax and spending bill. He’s trying to sign it into law by the end of the week.

They also discuss the State Department’s decision to revoke US visas for British band Bob Vylan after their Glastonbury performance.

If you’ve got a question you’d like the Trump100 team to answer, you can email it to trump100@sky.uk.

You can also watch all episodes on our YouTube channel.

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Major German bank to offer crypto trading by 2026 amid bank ‘FOMO’

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Major German bank to offer crypto trading by 2026 amid bank ‘FOMO’

Major German bank to offer crypto trading by 2026 amid bank ‘FOMO’

Sparkassen-Finanzgruppe execs once ruled out adopting crypto over concerns of volatility and risk, and the banking giant also blocked customer crypto transactions back in 2015.

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