According to U.S Commerce Secretary, Gina Raimondo, she and her Chinese counterpart, Wang Wentao have agreed to exchange information on U.S. export controls.
This came as Raimondo and Wang held talks at the Chinese Ministry of Commerce in Beijing on Monday, August 28, 2023. The U.S Commerce Secretary is currently in China for an official visit. She arrived in Beijing on Sunday, August 27, 2023, evening.
Gina Raimondo is the fourth high-ranking US official to visit China in recent months, following U.S Treasury Secretary, Janet Yellen who visited the Asian country in July.
Before meeting with Chinese Commerce Minister, Wang Wentao, Raimondo disclosed, “We share US$700 billion of trade, and I concur with you that it is profoundly important that we have a stable economic relationship, which is to the benefit of both of our countries and is, in fact, what the world expects of us.”
“It’s a complicated relationship; it’s a challenging relationship. We will, of course, disagree on certain issues, but I believe we can make progress if we are direct, open, and practical.”
Gina Raimondo
Raimondo revealed that during their meeting which lasted for four hours, she and Wang agreed to launch an “information exchange” on export controls.
The launch of the information exchange would provide a “platform to reduce misunderstandings of U.S national security policies,” Raimondo said.
She stated that they also will establish a “working group” of officials and private sector representatives to “seek solutions on trade and investment issues.”
Raimondo added that the information exchange will have its first meeting on Tuesday, August 29, 2023.
Wang told Raimondo that Beijing is ready to work together to “foster a more favorable policy environment for stronger cooperation” and “bolster bilateral trade and investment.”
However, he did not provide details of possible initiatives.
Speaking to reporters at Ambassador Nicholas Burns’s official residence, Raimondo averred, “The United States is committed to being transparent about our export control enforcement strategy.”
“We are not compromising or negotiating in matters of national security but this is meant to be a dialogue where we increase transparency.”
Gina Raimondo
“We Seek Healthy Competition With China”
In her meeting with Wang, Raimondo emphasized that the U.S seeks a healthy competition with China.
Raimondo defended the Biden administration’s “de-risking” strategy of trying to increase domestic U.S. production of semiconductors and other high-tech goods and to create additional sources of supply to reduce chances of disruption.
Beijing has criticized that as an attempt to isolate China and hamper its development.
“It is not intended to hinder China’s economic progress. We believe a strong Chinese economy is a good thing. We seek healthy competition with China. A growing Chinese economy that plays by the rules is in both of our interests.”
Gina Raimondo
“That said, we have to make sure there is a level playing field, and we will at all times do what we need to do to protect our workers,” she added.
A key Chinese complaint is limits on access to processor chips and other U.S. technology on security grounds that threaten to hamper the ruling Communist Party’s ambition to develop artificial intelligence and other industries.
The restrictions crippled the smartphone business of Huawei Technologies Ltd., China’s first global tech brand.
Last week, on the day Raimondo’s visit to Beijing was announced, Washington removed 27 Chinese companies from a blacklist that limits access to U.S. technology.
Raimondo is also slated to meet China’s second in command, Premier Li Qiang, and other officials.
