China-US summit boosts focus on California-China trade ties in World Economy News 18/05/2026 Amid ongoing high-level engagement between China and the United States, business leaders, trade officials and industry representatives called for stronger economic cooperation, highlighting the role of free trade zones, industrial partnerships and investment facilitation in supporting global supply chains and bilateral trade. At the 2026 China-Californian Business Forum, participants said continued dialogue between the world’s two largest economies remains essential for global economic stability and long-term business confidence. The event took place on Tuesday, a day before US President Donald Trump began his three-day state visit to China. During a panel discussion on “Trade & Investment Opportunity in Free Trade Ports & Zones,” executive director of the Port of Los Angeles Gene Seroka emphasized the importance of maintaining strong commercial ties between China and the US despite current global challenges. “These are the two largest economies in the world, making sure that we continue to trade and build up business to new heights is my hope for this week’s dialog,” Seroka told China Daily. “We have a lot of work to do around policy and tariffs.” Seroka noted that the Port of Los Angeles and the neighboring Port of Long Beach continue to play a key role in facilitating trade between the US and Asia, particularly through the use of Foreign Trade Zones (FTZ) and bonded warehouse facilities that help companies manage tariff-related pressures. According to Seroka, the Port of Los Angeles currently operates around 5,400 acres of facilities within FTZ categories, including dozens of units and subzones located near major transportation and industrial hubs near Los Angeles International Airport. “In a very small way, the ports can assist in bringing down some of those tariff costs for importers,” Seroka said. He added that demand for these facilities has risen significantl