US and Chinese Officials to Hold Talks on Trade Issues during US Commerce Secretary’s Visit to Beijing
Beijing, China – US Commerce Secretary Gina Raimondo is currently on a visit to Beijing to engage in discussions with Chinese officials regarding contentious trade matters. This visit marks another effort by Washington to ease tensions with the world’s second-largest economy.
During her visit, Raimondo met with Chinese Commerce Minister Wang Wentao on Monday. Both parties reached an agreement to establish a working group specifically tasked with resolving the extensive list of trade disputes between the two nations. Additionally, they agreed to establish an “export control enforcement information exchange,” which aims to minimize misunderstandings surrounding US national security policies. The inaugural meeting of this information exchange platform is scheduled to occur at Beijing’s Ministry of Commerce on Tuesday.
In a statement, the US Commerce Department highlighted Secretary Raimondo’s emphasis on the importance of maintaining open lines of communication between the United States and China. Concrete steps have been taken towards achieving this objective.
However, Beijing provided a more negative assessment, with Minister Wang expressing “serious concerns” regarding Washington’s trade restrictions on Chinese businesses. These concerns included issues such as “US Section 301 tariffs on Chinese goods, its semiconductor policies, restrictions of two-way investment, discriminatory subsidies, and sanctions on Chinese enterprises,” as stated by China’s commerce ministry. On the other hand, Washington defends these policies as necessary to safeguard its supply chains.
Raimondo’s agenda for Tuesday includes meetings with Vice Premier He Lifeng, Culture Minister Hu Heping, and a courtesy visit to Premier Li Qiang. Following these engagements, she will proceed to Shanghai, China’s economic powerhouse, before concluding her visit and departing the country on Wednesday.
Raimondo is part of a series of high-level US officials who have visited China in recent months. This effort reflects Washington’s commitment to improving its relationship with China, its largest strategic rival. Bilateral relations have reached one of their lowest points in decades, with trade restrictions imposed by the US being among the most contentious issues.
In a recent development, US President Joe Biden issued an executive order aimed at restricting certain US investments in sensitive high-tech sectors in China. Beijing strongly criticized this move, labeling it as “anti-globalization.” The expected implementation of these regulations next year will primarily target areas such as semiconductors and artificial intelligence.
US Treasury Secretary Janet Yellen, during her visit to Beijing last month, sought to alleviate Chinese officials’ concerns regarding the impending restrictions. Similarly, Raimondo stressed on Monday that while there is no room for compromise or negotiation on US national security matters, the majority of the trade and investment relationship between the two countries does not involve national security concerns. She emphasized the pursuit of healthy competition with China, stating that a thriving Chinese economy that adheres to established rules is beneficial for both nations.
Earlier this year, US Secretary of State Antony Blinken visited Beijing, where he held discussions with President Xi Jinping, reporting progress on several key areas of contention. Additionally, US climate envoy John Kerry paid a visit to China in July. The visits by senior US officials signify ongoing efforts to address the significant challenges present in the bilateral relationship between the United States and China.
