Commerce Secretary meets Premiere Li, Minister Wang in an attempt to shore up US-China ties
ALBAWABA – United States (US) Commerce Secretary Gina Raimondo is meeting with top Chinese officials today, Tuesday, to discuss the ongoing trade disputes in an attempt to restore US-China ties.
On her third day of an official visit to Beijing, news agencies reported, Raimondo will also attempt to resolve and clarify the recent curbs targeting Chinese sectors and the intentions behind them.
To the US, the series of policies curbing exports and investments in specific high-tech sectors are intended to “de-risk” its supply chains and protect national security interests. But to the Chinese, these policies come across as an outright attempt to undermine the nation’s technological and economic progress and growth.
US Commerce Secretary Gina Raimondo (R) speaks during a meeting with China’s Minister of Commerce Wang Wentao (not pictured) at the Ministry of Commerce in Beijing on August 28, 2023. (Photo by Andy Wong / POOL / AFP)
Notably, recent US policies prohibit the export of high-tech semiconductors to China and restrict investments in sensitive tech sectors, such as AI and advanced chip-making. This comes on top of tariffs on imports of Chinese goods and other measures pertaining to China tech and exports.
The ongoing US-China trade and tech war has escalated over the last few months.
China responded to Washington’s policies with bans on exporting chip-making minerals and other measures against US companies and businesses operating in China and elsewhere. In Addition to banning the import of specific chips from one major American company and curbing drone exports.
China and the US must "step up" together to solve issues of global concern, Raimondo told Chinese Premier Li Qiang during a meeting with the prime minister earlier today.
"There are... areas of global concern, such as climate change, artificial intelligence, the fentanyl crisis, where we want to work with you as two global powers to do what is right for all of humanity," she told Li.
"The world is expecting us to step up together to solve these problems," the secretary said.
De-risking supply chains at the expense of US-China ties
Overall, the US seems to be trying hard to find common areas of interest to work on with China in other domains, apart from those prioritized by the Chinese.
China has made leaps in semiconductor and chips manufacturing, as well as AI, which may affect the US’ dominion over the domain. Not to mention that much of the respective supply chains pertaining to these sectors go through China, which also exports critical minerals used in chip-making.
US Commerce Secretary Gina Raimondo (4th L) attends a meeting with Chinese Vice Premier He Lifeng (4th R) at the Great Hall of the People in Beijing on August 29, 2023. (Photo by Andy Wong / POOL / AFP)
During his meeting with Raimondo Monday, China’s Commerce Minister Wang Wentao raised "serious concerns" over US trade curbs on Chinese businesses, according to Agence France-Presse (AFP). Those included "US Section 301 tariffs on Chinese goods, its semiconductor policies, restrictions of two-way investment, discriminatory subsidies, and sanctions on Chinese enterprises", Beijing's commerce ministry said.
Though Washington defends the policies as necessary to "de-risk" its supply chains, Wang warned they "run counter to market rules and the principle of fair competition, and will only harm the security and stability of the global industrial and supply chains".
America attempts to restore US-China ties without making compromises
Both Raimondo and Wang agreed to set up a working group to resolve trade disputes between the two largest economies in the world, AFP reported.
However, the US does not seem to be willing to budge on its recent policies.
In fact, Raimondo made it clear Monday that the US will not compromise on any of its measures pertaining to what America describes as national security concerns.
Nonetheless, both senior officials agreed to set up what Washington called an "export control enforcement information exchange". The Commerce Department described the exchange as a platform to "reduce misunderstanding of US national security policies".
The information exchange will convene for the first time at Beijing's Ministry of Commerce on Tuesday, Washington announced Monday, according to AFP.
Raimondo's trip to China is the latest by a senior US official in recent months as Washington seeks to defuse tensions and restore US-China ties.
US Commerce Secretary Gina Raimondo (L) meets with Chinese Minister of Culture and Tourism Hu Heping before their meeting at the Ministry of Culture and Tourism in Beijing on August 29, 2023. (Photo by Andy Wong / POOL / AFP)
Raimondo also met China's Culture and Tourism Minister Hu Heping earlier on Tuesday.
Her meeting with Hu underscores "the importance of people-to-people exchange to the broader US-China bilateral relationship", the US Commerce Department said.
Raimondo also met with Vice Premier He Lifeng, according to AFP, before heading to China's economic powerhouse Shanghai. She will then be leaving China on Wednesday.
