The Office of the United States Trade Representative (USTR) announced on Friday that it would review the Economic and Trade Agreement Between the Government of the United States of America and the Government of the People’s Republic of China (PRC) (generally referred to as the "Phase One"

News reports indicate that the EU has restarted its WTO complaint against Chinese restrictions on Lithuanian trade, although the EU action may simply be a procedural move to prevent the panel process from lapsing.

This past week, CTM covered the following issues: In China: * Beijing’s response to potential TikTok deal and U.S. tariffs * Sanction status of U.S. Secretary of State Marco Rubio * Updates on China’s trade-in subsidy programs to boost domestic consumption  * New policy to open financial services * Potential expansion

At a press conference today, the spokesperson for China's Ministry of Commerce (MOFCOM) responded to a potential TikTok deal and threats of more U.S. tariffs in a way that may suggest openness on the part of the Chinese government.

At the World Economic Forum today, both President Trump and EU Trade Commissioner Maroš Šefčovič offered comments on some big picture questions surrounding trade relations with China, with Trump complaining about trade deficits and unfairness and Šefčovič also noting concerns with trade imbalances.

While President Trump's ability to impose tariffs through statutory authority delegated by Congress is the focus of attention right now, Congress is also considering tariff actions, with China a likely target through legislation to withdraw China’s Permanent Normal Trade Relations (PNTR) status.

In a recently issued document, Beijing expanded financial services access and committed to national treatment for foreign financial institutions as part of a pilot project.