Tesla received a significant boost in China last week as the company cleared some key hurdles for its operations, as the company seeks to solidify its foothold in China.

Last week, the United States and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), held an in-person negotiating round for the U.S.-Taiwan Initiative on 21st-Century Trade in Taipei, Taiwan.

The China-Ecuador Free Trade Agreement (FTA) entered into force on May 1 after both sides finished their domestic legal procedures. The agreement would lower tariffs for Chinese steel and autos over time.

In April, China's General Administration of Customs (GACC) made the following announcements, opening its market to seafood and fruit from some South American and other countries, and lifting some import bans that had been imposed due to animal diseases.

Last Friday, China passed its first Tariff Law, which contains language providing for retaliatory measures including tariffs against any violations of World Trade Organization rules and other bilateral and regional agreements.

As Japan is reportedly tightening its grip on exports of advanced materials and equipment, China's Ministry of Commerce (MOFCOM) warned that Japan's actions could "seriously affect" normal bilateral trade.

During U.S. Secretary of State Antony Blinken's China trip last week, he and his Chinese counterpart exchanged views on overcapacity, a hot-topic issue in bilateral trade relations, as well as on "unfair" U.S. measures against China and China's "unfair trade practices.