U.S. Senators John Thune (R-SD) and Angus King (I-ME) have introduced a resolution that calls for reform of the special and differential treatment rules at the WTO, so that China is not able to self-designate as a developing country.

Last week, the European Commission announced that it had adopted two Regulations "which together renew, adjust and extend the scope of the existing measures on imports of high tenacity yarn of polyester (HTYP) from China."

This past week, CTM covered the following issues. In China: * Responses to proposed EU sanctions * Criticism of USTR Section 301 report * April trade data * Semiconductor subsidies * Potential Chinese investment in Swedish battery factory In the U.S.: * New proposed investment restrictions on real estate * Congressional criticism of Chinese labor rights

After the news broke that the European Commission proposed to sanction multiple Chinese companies over their sales to Russia, several Chinese officials pushed back against this proposal at various events this week, and warned of taking "necessary measures" to protect Chinese firms.

Following up on a virtual meeting with his Chinese counterparts in February, and an invitation issued then to meet in person in China, Australian Trade Minister Don Farrell announced today that he was visiting China to discuss various trade issues with his Chinese counterparts.

Recent news reports suggest that Italy is considering leaving the BRI, and will make a final decision by the end of the year. This move may be mainly symbolic though, with limited economic impact, just as the original decision by Italy to join the BRI was.

A Chinese official from the Ministry of Commerce recently criticized the 2023 Special 301 Report published by the Office of the United States Trade Representative, calling it "lacking in objectivity and fairness."