Commerce Secretary Gina Raimondo and her Chinese counterpart expressed a desire to improve trade terms on Monday, with Raimondo embarking on a visit to Beijing aimed at defusing frosty ties, but neither side appeared willing to budge on the other’s key demands.
Raimondo joins U.S. officials, including treasury secretary janet yellen july People who have visited China in the past three months. They expressed optimism about improved communication but declared no progress on technology, security, human rights and other disputes that have brought relations between the two countries to their lowest level in decades.
In the case of Chinese leader Xi Jinping’s government Hopes to revive foreign investor interest in China It’s trying to reverse a deepening recession.
Commerce Minister Wang Wentao told Raimondo that Beijing was willing to work together “to create a more favorable policy environment for enhanced cooperation” and to “promote bilateral trade and investment.” Wang gave no details of possible moves.
Raimondo said the two sides were working to establish a “new exchange of information” for “more consistent engagement.”
“It’s very important that we have a stable economic relationship,” she said. “I believe that if we are direct, open and pragmatic, we can make progress.”
In August 2022, Beijing broke off talks with Washington on military, climate and other issues in retaliation for a visit to Taiwan by then-House Speaker Nancy Pelosi. Mainland China’s ruling Communist Party claims the self-governing democratic island as part of its territory and opposes foreign governments engaging with it.
State media has given positive coverage of the U.S. visit to Beijing, but China has given no indication of possible changes to trade, strategy, market access and other policies that have riled Washington and its Asian neighbors.
Before leaving Washington, Raimondo told reporters she was looking for “actionable, concrete steps” to advance the business relationship, without giving details. She said she was realistic that the “challenges are enormous”.
The visit follows an agreement reached when Xi Jinping and President Joe Biden met in Indonesia last November.
in June, Secretary of State Anthony Blinken Meets with Xi Jinping The visit was delayed 30 minutes from February because of Chinese surveillance balloons entering U.S. airspace. The Chinese leader has called on Washington to change policy on Taiwan and other issues, and has rejected calls to resume military cooperation.
Last week, on the day Raimondo announced his visit to Beijing, Washington removed 27 Chinese companies from a blacklist restricting access to American technology.
The decision “could help prepare for Raimondo’s trip,” Anna Ashton and Kelly Milliken of the Eurasia Group said in a report.
That suggests Washington is “making modest but measurable progress with Beijing in rebuilding limited intergovernmental communication,” Ashton and Milliken wrote. “Raimondo’s visit could lead to more progress.”
One of China’s main complaints is restricting access to processor chips and other U.S. technology Threats thwart Communist Party’s AI ambitions and other industries imposed by the US on security grounds.this Restrictions cripple smartphone business Huawei Technologies Co., Ltd. is China’s first global technology brand. Washington also persuaded the Netherlands and Japan Along with it prevent China from getting the tools to make advanced chips.
“On national security issues, there is no room for compromise,” but most U.S.-China trade “does not involve national security issues,” Raimondo told Wang. “I am committed to promoting trade and investment in areas that are in our mutual best interest.”
Raimondo defended the Biden administration’s “de-risking” strategy, which seeks to increase domestic production of semiconductors and other high-tech products and create more sources of supply to reduce the chance of disruption. Beijing criticized it as an attempt to isolate China and hinder its development.
“This is not to hinder China’s economic progress. We believe a strong Chinese economy is a good thing,” Raimondo told Wang. “We seek healthy competition with China. It is in both of our interests to play by the rules and to have a growing Chinese economy.”
Wang Yi visited Washington in May. The U.S. government has invited Foreign Minister Wang Yi to visit Washington, but no specific plans have been announced.
Raimondo will also meet with China’s No. 2 leader, Premier Li Qiang, and other officials.
The Biden administration has also taken steps that could anger Beijing.
In June, Biden added 59 Chinese companies, including military contractors and semiconductor manufacturers, to the U.S. list of prohibited investment entities.
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