The US and China must have stable economic relations, says the US Commerce Secretary

By David Shepardson

BEIJING – US Commerce Secretary Gina Raimondo opened talks with Chinese government officials on Monday, saying it was “deeply important” that the world’s two largest economies have a stable economic relationship.

Raimondo is looking to boost trade ties as US firms have signaled growing challenges operating in China, while China has sharply criticized US efforts to block its access to advanced semiconductors.

Raimondo said the world expects the US and China to have a stable economic relationship. The two countries share over $700 billion in annual trade.

“It’s a complicated relationship. It’s a challenging relationship. Of course we won’t agree on some issues,” Raimondo said. “I think we can make progress if we are direct, open and practical.”

Raimondo, who holds three days of talks with Chinese and entrepreneurs to strengthen ties, met the Minister of Commerce, Wang Wentao, for just over two hours on Monday.

Wang said the US-China economic relationship is important not only to the two countries, but also to the rest of the world, and appreciated Raimondo’s remarks that she enjoys trade with China.

He said he is ready to work together to “promote a more favorable political environment for stronger cooperation between our companies in order to strengthen bilateral trade and investment in a stable and predictable manner.”

Raimondo ruled out any discussion of US export restrictions designed to slow down Beijing’s military advance.

“It is clear that on national security issues there is no room for compromise or negotiation,” he said, adding that the vast majority had no impact on national security concerns.

Source: Terra

Rose

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