Marco Rubio says aiming for China trade, investment boards by Xi visit

Secretary of State Marco Rubio said the US and China are moving toward establishing boards for investment and trade between the top two economies ahead of President Xi Jinping’s planned visit in September.Secretary of State Marco Rubio, right, takes part in a bilateral meeting with China's Foreign Minister Wang Yi, left, on the sidelines of the Association of Southeast Asian Nations (ASEAN) Foreign Ministers' Meeting in Pasay, (AFP Photo)Rubio spoke with his Chinese counterpart Wang Yi about the issues Wednesday in Manila, he told reporters after the meeting.“We’re moving toward implementation of that,” he said. “That’s one of the potential concrete deliverables that we can have before September, when that visit happens.”The two sides agreed to form the boards during President Donald Trump’s visit to Beijing in May, which helped stabilize ties after he ratcheted up tariffs and Beijing restricted key rare earths products.Also Read: Donald Trump administration's 10% tariff on most Indian goods expires on July 24: What happens after that?The US president earlier this month said he expects Xi to visit around Sept. 24, which would coincide with the UN General Assembly opening in New York that month. Rubio said he expects Xi “will have a very positive visit when he comes to Washington.”US officials, including Treasury Secretary Scott Bessent, have said the Board of Trade would aim to see tariffs reduced on at least $30 billion in “non-sensitive goods” between the countries.Rubio added that he didn’t discuss with Wang Trump’s recent accusations tied to the 2020 election. Trump earlier in Washington downplayed the likelihood of retaliation over his unfounded allegations that Beijing illegally compromised American election data.