US Commerce Secretary touches down in Beijing to boost trade
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US Commerce Secretary Gina Raimondo's visit is part of a series of high-level visits by US officials to China in recent times.
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US Commerce Secretary Gina Raimondo meeting with China's Minister of Commerce Wang Wentao in Beijing on August 28, along with US Ambassador to China Nick Burns. (AFP)
US Commerce Secretary Gina Raimondo has held talks with her Chinese counterpart in Beijing, aiming to ease trade tensions between the world's two largest economies. Raimondo's four-day visit, spanning from Monday to Wednesday, is part of a series of high-level visits by US officials to China in recent times.
These visits could potentially lead to a meeting between the leaders of both nations. US President Joe Biden has indicated his anticipation of a meeting with China's President Xi Jinping sometime this year.
During her time in Beijing, Raimondo engaged in discussions with Chinese Commerce Minister Wang Wentao. The latter expressed his pleasure in engaging in economic and trade dialogue and coordination.
Upon Raimondo's arrival in Beijing, she was welcomed by Lin Feng, the director of the commerce ministry's Americas and Oceania department, as well as the US ambassador to China, Nicholas Burns.
Through posts on the social media platform X, Raimondo conveyed her eagerness for productive days ahead. She noted her arrival in Beijing for a busy itinerary of meetings with senior officials from the People's Republic of China (PRC) and leaders of US businesses.
Thank you for the welcome, @USAmbChina. I’m looking forward to a productive few days. https://t.co/6dXAEIAdiM
— Secretary Gina Raimondo (@SecRaimondo) August 27, 2023
The US Commerce Department has indicated that Raimondo's discussions will revolve around the US-China commercial relationship, challenges faced by American businesses, and potential areas of collaboration. Additionally, she is slated to visit Shanghai, a significant economic hub in China.
The big picture -
Diplomatic relations between the United States and China have deteriorated significantly, marking one of the most strained periods in decades. Among the array of disagreements, trade restrictions imposed by Washington are a major point of contention.
The United States has implemented a series of sanctions on China, which interpreted these measures as an attempt to hinder its economic ascent.
This month, President Biden issued an executive order to limit particular American investments in sensitive high-tech sectors within China. Beijing vehemently criticized this move, labeling it as "anti-globalization."
#Chinese companies wanting to export gallium or germanium will now need a license to do so, in addition to providing information on the destination, recipient and details about their end-use. A move that could definitely hurt the #US. pic.twitter.com/VQcGYQT1JK
— Al Mayadeen English (@MayadeenEnglish) August 7, 2023
These long-awaited regulations, expected to take effect next year, specifically target areas like semiconductors and artificial intelligence.
A flashback
US Treasury Secretary Janet Yellen took steps to assuage Chinese officials' concerns about the impending restrictions during her visit to Beijing last month. She assured that any new measures would be implemented transparently.
In June, US Secretary of State Antony Blinken made a trip to Beijing, where he met President Xi Jinping and noted progress in addressing several significant points of contention. In July, US climate envoy John Kerry also visited China.
However, neither Yellen nor Blinken's visits led to significant breakthroughs, and a recent summit involving the United States, South Korea, and Japan held at Camp David—partially aimed at countering China—elicited criticism from Beijing.
Following the Camp David summit, Biden affirmed his expectation to once again meet with Chinese leader Xi Jinping later this year.
It is also worth noting that Biden invited Xi to San Francisco in November, coinciding with the United States' hosting of a summit for the Asia-Pacific Economic Cooperation forum, which includes China.
Furthermore, the two leaders might potentially cross paths next month in New Delhi during a summit of the Group of 20 major economies.
