Beijing: In an effort to ease trade tensions, the United States and China have agreed to establish a new working group for discussing commercial issues. This move comes as both countries seek to manage their complex economic relationship. Gina Raimondo, the US Commerce Secretary, reached the agreement with her Chinese counterpart during her visit to Beijing on Monday.

The working group is intended to address trade and investment matters and advance US commercial interests in China. The group will meet twice a year, with the first meeting hosted by the US next year. Additionally, an "export control enforcement information exchange" platform will be established to reduce misunderstandings regarding US national security policies.

The working group's inaugural meeting, to be led by assistant secretary-level officials, is scheduled to take place in Beijing on Tuesday. The two nations also plan to hold annual meetings between their respective Commerce Secretaries.

Raimondo emphasized the importance of maintaining a stable economic relationship between the two countries, despite acknowledging the complexity and challenges. She expressed optimism about making progress through open and practical dialogue.

The establishment of the working group comes amidst longstanding trade tensions and disagreements between the US and China. These tensions have strained relations and raised concerns about the potential impact on the global economy. Both nations have expressed their intent to seek healthy competition and cooperation in their economic interactions.

While recent high-level visits and dialogues have occurred between the US and China, major breakthroughs have yet to be achieved. The leaders of the two nations are expected to continue engaging in discussions to address their differences and explore areas of cooperation.