Earlier this week, New Zealand Prime Minister Chris Hipkins announced that he would be "leading a major trade delegation to China at the end of this month, with stops in Beijing, Tianjin, and Shanghai," the first such trip since 2016.

As part of Honduran President Xiomara Castro's China trip this week, the two governments announced that they are ready for trade negotiations. China also gave a green light to some Honduran agricultural products so they can be sold in China.

Legislation may only have limited impact on Biden administration approach to Taiwan trade.

"[E]very sentence in [the Joint Declaration] reads like a description of the US itself."

Last week, the Biden administration took new actions to keep forced labor practices out of the U.S. supply chain by adding additional Chinese companies to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List.

The decline exists with most of China's major trading partners, although there are a few exceptions.

At a Ministerial meeting in Paris on June 8, the governments of Australia, Canada, Japan, New Zealand, the United Kingdom and the United States put forward a Joint Declaration Against Trade-Related Economic Coercion and Non-Market Policies and Practices.