US Commerce chief heading to China with aim of boosting business ties
U.S. Commerce Secretary Gina Raimondo visits China to strengthen business ties, despite the Biden administration's efforts to restrict technology exports to China.
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Posted 8/25/2023, 2:01:00 PM
reuters.com
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China's commerce ministry spokesperson, Shu Jueting, expressed China's willingness to engage in comprehensive discussions with the United States to address economic and trade issues during the upcoming visit of U.S. Commerce Secretary Gina Raimondo.
US Secretary of Commerce Gina Raimondo's visit to China will test the sincerity of the US in pursuing dialogue, particularly regarding the country's restrictions on tech exports, according to Chinese experts. Both sides remain committed to dialogue despite strained bilateral relations, but the US must demonstrate actual efforts rather than just rhetoric to improve economic and trade relations.
Commerce Secretary Gina Raimondo and her Chinese counterpart have agreed to exchange information on U.S. export controls and establish a working group to discuss trade and investment issues, but no progress has been made on disputes over technology, security, human rights, and tariffs.
U.S. Commerce Secretary Gina Raimondo has stated that American companies are viewing China as "uninvestible" due to fines, raids, and other risky actions taken by the Chinese government, presenting a bleak picture of American firms' perception of doing business in China.
U.S. Commerce Secretary Gina Raimondo rejected China's appeal to reduce U.S. export controls on technology with potential military applications but agreed to have experts meet to discuss disputes over protecting trade secrets, as efforts continue to restore strained relations between the two countries.
Commerce Secretary Gina Raimondo acknowledges the existence of inflation and its impact on Americans while highlighting the progress made by the Biden administration on the economy, as reflected in the August jobs report.
US Commerce Secretary Gina Raimondo emphasizes the importance of communication and dialogue in maintaining a mutually beneficial economic relationship between the US and China, while also reaffirming the need to protect US interests in semiconductors and chips.