Australia's Productivity Commission, which is the Australian Government's independent research and advisory body on a range of economic, social and environmental issues, has written about the economic gains from China joining the CPTPP.

On Friday, the Biden administration issued final rules on tax credits for electric vehicles (EVs), restricting the use of Chinese inputs in these EVs, although apparently not enough for some critics.

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.

This past week, CTM covered the following issues. In China: * New tariff law * Blinken's China trip * MOFCOM comments on overcapacity in new energy sector and Japan’s export control proposal * SPS announcements In the U.S.: * Democratic Senators weigh in on Section 301 tariff review * Federal Reserve paper

With one U.S. investment already in place, a major Chinese solar manufacturing executive made comments recently indicating that the Chinese industry may have to expand these investments in order to sell in the U.S. market.

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.