U.S., Japanese and South Korean finance leaders agreed to consult closely on foreign exchange and market developments in a trilateral meeting on Wednesday, they said in a joint statement issued by the U.S. Treasury Department.
China’s military said on Wednesday it sent fighter jets to monitor and warn a U.S. Navy patrol aircraft that flew over the sensitive Taiwan Strait, a mission that took place just hours after a call between the Chinese and U.S. defence chiefs.
The U.S. 7th Fleet said a Navy P-8A Poseidon flew through the Taiwan Strait on Wednesday, a day after U.S. and Chinese defense chiefs held their first talks since November 2022 in an effort to reduce regional tensions.
Overcapacity, particularly prevalent in technologically advanced sectors such as electric vehicles (EVs), now occupies a central place in the economic discourse between the United States and China.