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Chinese Vice-Premier Wang Yang with Treasury Sec. Mnuchin and Commerce Sec. Ross at the Comprehensive Economic Dialogue in 2017. Photo: Liao Pan / China News Service / VCG via Getty Images

The Treasury Department is ending a 10-year-old line of formal economic communication with China — the U.S.-China Comprehensive Economic Dialogue — because the Trump administration is "disappointed" with perceived unfair trade practices by China, per Bloomberg. Treasury Sec. Steven Mnuchin will still continue to engage in private, informal talks with high-ranking Chinese officials.

“Above all, their markets are not reciprocal in the sense that there’s not an ability for other countries to work in China the way that China works in elsewhere."
— David Malpass, Treasury’s undersecretary for international affairs, to Bloomberg TV

The backdrop: President Trump is making moves against Chinese economic influence on several fronts. He reportedly wants to curtail Chinese investment in U.S. companies and hit the country with another round of steep tariffs, after his recent actions on steel and aluminum.

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.
4 hours ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

4 hours ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.