The position of the US Secretary of Commerce on the US-Chinese economy

US Secretary of Commerce Gina Raimondo and her Chinese counterpart Wang Wentao expressed their support for improving trade conditions on Monday. Raimondo began her visit to Beijing as part of American efforts to improve the chilly relations between the two countries.
Raimondo's visit follows a similar step taken by other American officials, such as Treasury Secretary Janet Yellen in July, who visited China in the past three months. They expressed optimism about improving communications, but no progress has been announced regarding disputes over technology, security, human rights, and other issues that have brought relations to their lowest point in decades.
US Secretary of Commerce Gina Raimondo, who arrived in Beijing on Sunday, seeks to stabilize relations between the world's two largest economies. These relations are at a critical juncture amid escalating tensions due to restrictions imposed by the United States on China's access to technologies that could aid its military, among other reasons.
US-China relations have deteriorated to their lowest levels in decades, with trade restrictions imposed by Washington topping the list of conflicts.
Washington argues that its restrictions are necessary to protect national security, while Beijing sees them as hindering its economic progress.
Earlier this month, President Biden issued an executive order aimed at imposing restrictions on specific American investments in sensitive advanced technology sectors in China. Beijing condemned this move as anti-globalization."
Raimondo stated, 'We want to have a stable trade relationship, and the essence of that is regular communication.' 'We need communication to avoid conflict.'
Republicans in Congress criticized the possibility of Raimondo forming a working group with China during the visit to discuss controls on American semiconductor exports.
Raimondo did not confirm plans to form any working group but affirmed that she would tell Chinese officials, 'When it comes to national security, we do not negotiate. We do not make concessions. We do not compromise.'
The United States uses government incentives and tax policies to steer American companies away from Chinese supply chains and increase semiconductor production in the United States.
Raimondo said, 'Just because we invest in America does not mean that we want to separate from the Chinese economy.'
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29/08/2023
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