Beijing plans to roll out one of its biggest fiscal incentive packages over five years, mainly as subsidies and tax credits to bolster semiconductor production and research activities at home.
Letters from China's embassy in Washington have pressed executives to urge members of Congress to alter or drop specific bills that seek to enhance US competitiveness.
The Biden administration is expected as early as Friday to add at least 10 more Chinese companies and other entities to the list over alleged human rights abuses and high-tech surveillance in the Chinese region of Xinjiang
US-China relations have remained strained for years owing to hegemonic rivalry in the Pacific and mutual suspicion over each other's political intentions. The phone call today between the two commerce ministers is part of an attempt to bridge these fraught ties under the Biden administration.