Raimondo meets Shanghai officials to discuss trade issues
US Commerce Secretary Gina Raimondo met with Shanghai Communist Party chief Chen Jining on Wednesday, as part of her bridge-building trip to China. Raimondo said she wanted to work with China to ensure a more “predictable” environment for American businesses in Shanghai, the economic hub of China.
“The US-China economic relationship is among the most consequential in the world,” she told Chen. Raimondo told Chen she was looking forward to talks to “bring about a more predictable business environment, predictable regulatory environment, and a level playing field for American businesses here in Shanghai”.
US firms in China have long complained about what they see as an unfair business environment, with limited protection for intellectual property and preferential treatment afforded to domestic competitors. Those fears have been compounded this year by a broad crackdown on US consulting firms operating in China.
Raimondo raises concerns over trade practices and trade secrets
In a Tuesday meeting with Vice Premier He Lifeng in Beijing, Raimondo raised what Washington sees as unfair trade practices by China, according to a US Department of Commerce readout. She also emphasised the “importance of strengthening the protection of trade secrets for US businesses operating in China”.
The commerce secretary is one of a number of senior US officials to visit China in recent months – part of an effort by Washington to improve its working relationship with its largest strategic rival. Raimondo has used the trip to seek more open discussions with the Chinese over restrictive trade curbs and the two sides have agreed to set up a working group to iron out the laundry list of trade disputes between them.
Raimondo hopes for positive outcomes from dialogue
Raimondo said she hoped that the dialogue between the two countries would lead to positive outcomes for both sides and the global economy. She said she was impressed by the innovation and entrepreneurship she saw in Shanghai and hoped to foster more cooperation and exchange between the US and China.
“I believe that we can find areas of common ground where we can work together for mutual benefit,” she said. “I also believe that we can address our differences in a constructive and respectful way.”
Raimondo’s visit comes amid heightened tensions between the US and China over a range of issues, including human rights, cybersecurity, Taiwan, and the South China Sea. The two countries have also imposed tariffs and sanctions on each other’s goods and officials, affecting bilateral trade and investment.
