China’s Commerce Minister today asked the United States for a stable environment for companies, during a meeting in Beijing with Apple’s executive chairman, marked by growing bilateral trade tensions.
According to a statement released by the official Chinese news agency Xinhua, Wang Wentao and Tim Cook exchanged views on bilateral economic and commercial relations and on the North American technology giant’s operations in China.
Wang stated that, under the “strategic guidance” of the presidents of the two countries, the economic and commercial teams have held four rounds of negotiations since May, with the aim of stabilizing the bilateral relationship.
The official attributed the recent fluctuations in commercial ties to the “intense application of new restrictive measures by the United States against China”, following the most recent round of dialogue in Madrid.
Washington’s measures “severely harmed Chinese interests and deteriorated the negotiating climate”, he stressed.
Wang urged Washington to maintain dialogue “on an equal footing” and create a “more stable and predictable” environment for companies in both countries.
The minister assured that the Chinese Government “will continue to promote high-level opening up and improve the business environment”, having invited Apple to “deepen cooperation and increase investment” in the country.
According to Xinhua, Tim Cook expressed Apple’s willingness to “continue to reinforce its commitment to China” and to “actively participate in its high-quality development”.
Cook stressed that a solid economic relationship between China and the United States “is crucial to the stability and development of the global economy.”
The meeting takes place at a time of increasing tension in the trade war between Beijing and Washington, following threats by US President Donald Trump to impose 100% tariffs on all Chinese products from November and recent Chinese restrictions on the export of rare earths, essential minerals for the technology industry.
In recent days, Cook also met with China’s vice prime minister and trade representative, He Lifeng, and with the Minister of Industry and Information Technology, Li Lecheng, occasions in which Chinese authorities reiterated their commitment to opening up and the American businessman expressed Apple’s intention to continue increasing investment and cooperation in the country.