HomeBusinessU.S. Does Not Want to ‘Decouple’ From China, Raimondo Says

U.S. Does Not Want to ‘Decouple’ From China, Raimondo Says

Gina Raimondo, the U.S. secretary of commerce, held discussions with Chinese officials on Tuesday to address concerns about China’s business environment. Despite not seeking to sever economic ties with China, Raimondo highlighted a range of issues, such as intellectual property theft, raids on businesses, counterespionage law, and unexplained exorbitant fines. She stated that the business community is increasingly describing China as “uninvestable” due to the risks involved. Raimondo emphasized the importance of maintaining the trade relationship between the U.S. and China, while also addressing broader threats like climate change and artificial intelligence. However, she declined China’s requests to reduce export controls on advanced technology and retract a recent executive order banning new investments in certain advanced technologies, citing national security concerns. Premier Li Qiang acknowledged the mutually beneficial nature of economic relations between the two countries but cautioned against politicizing economic and trade issues. Raimondo’s visit is part of the Biden administration’s efforts to restore communication and mitigate tensions with China. Both countries agreed to hold regular discussions on commercial issues and exchange information on enforcing export controls. Additionally, Raimondo met with China’s minister of culture and tourism to discuss promoting the travel industry, as travel between the two countries remains significantly affected by the pandemic. The Commerce Department’s delegation traveled by high-speed train from Beijing to Shanghai, highlighting the efficiency and convenience of China’s high-speed rail system.