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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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Canucks, Boeser agree on new seven-year deal

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Canucks, Boeser agree on new seven-year deal

The Vancouver Canucks have come to terms with forward Brock Boeser on a new seven-year contract, carrying a $7.25 million AAV.

Canucks GM Patrik Allvin announced the deal on Tuesday during the first hour of NHL free agency. Boeser, 28, was an unrestricted free agent on a previously expiring contract.

Drafted by Vancouver 23rd overall in the 2015 NHL draft, Boeser has collected 204 goals and 434 points in 554 games with the Canucks to date. A top-six scoring threat, Boeser has elite playmaking skills and the potential to produce big numbers offensively. He had his best year offensively in 2023-24, producing 40 goals and 73 points in 81 games.

Boeser didn’t hit those marks again last season — settling for 25 goals and 50 points in 75 games — but was still second amongst teammates in output. He also plays a prominent role on Vancouver’s power play and when he can generate opportunities at 5-on-5, he is a true difference-maker up front for the Canucks.

The extension is a happy ending for Vancouver and Boeser. When the regular season ended, Boeser admitted “it’s tough to say” whether he’d be back with the Canucks. Boeser reportedly turned down a previous five-year extension offer with the club and Allvin subsequently looked into deals for him at the March trade deadline, with no takers. Boeser looked — and sounded — poised to explore his options on the open market.

Ultimately, Boeser decided to stay put by committing the best years of his career to the Canucks.

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Jake Allen agrees to 5-year deal with the Devils

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Jake Allen agrees to 5-year deal with the Devils

Jake Allen, one of the top goaltenders available entering free agency, is not heading to the market after agreeing to a five-year deal with the New Jersey Devils, sources told ESPN on Tuesday.

Allen’s average annual value on the deal is $1.8 million, sources told ESPN. That AAV allows the Devils to run back the same goaltending tandem for next season.

Jacob Markstrom has one year remaining on his contract for $4.125 million. Nico Daws is also under contract for next season, before becoming a restricted free agent next summer.

Several teams were interested in the 34-year-old veteran, whom sources said could have made more money on the open market. However, the deal with the Devils gives Allen long-term security. Allen has played for the Blues, Canadiens and Devils over his 12-year-career. He has started in 436 career games.

Last season, Allen started 29 games for the Devils, going 13-16-1 with a .906 save percentage, 2.66 GAA and four shutouts.

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Capitals sign Fehervary to 7-year, $42M extension

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Capitals sign Fehervary to 7-year, M extension

Washington Capitals defenseman Martin Fehervary signed a seven-year extension through the 2032-33 season that is worth $6 million annually, the team announced Tuesday.

Fehervary, who had one year of team control remaining, will enter the final season of a three-year bridge deal that will see him make $2.675 million before his new contract begins at the start of the 2026-27 season.

He finished the season with five goals and a career-high 25 points while logging 19 minutes. Fehervary also played a crucial role in the Capitals’ penalty kill by finishing with 245 short-handed minutes for a penalty kill that was fifth in the NHL with an 82% success rate.

Securing the 25-year-old Fehervary to a long-term deal means the Capitals now have seven players who have more than three years remaining on their current contracts.

It also means the Capitals front office has one less decision to make ahead of what is expected to be an active offseason in 2026 that will see the club have what PuckPedia projects to be $39.25 million in cap space.

That’s also the same offseason in which captain and NHL all-time leading goal scorer Alex Ovechkin‘s contract will come off their books along with that of defenseman John Carlson.

But until then, the Capitals have their entire top-six defensive unit under contract as they seek to improve upon a 2024-25 season that saw them finish atop the Metropolitan Division with 111 points before they lost in the Eastern Conference semifinal to the Carolina Hurricanes in five games.

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