Chinese Premier Li Qiang told Ms Raimondo that linking trade to political and security issues was detrimental. Read more at straitstimes.com.
BEIJING/WASHINGTON – From Disneyland and Starbucks to beauty aids and universities – these were among the goods and services that United States Commerce Secretary Gina Raimondo touted duringHer message? Bilateral trade in areas without national security concerns can be promoted, even as strategic assets such as high-end computer chips that preserve the US’ technological edge over China must be protected.
“The pan-politicisation and pan-securitisation of economic and trade issues will not only seriously affect the relationship and mutual trust between the two countries, but also damage the interests of our enterprises and people, which will have a disastrous impact on the global economy,” said the statement.
Ms Raimondo said that the Chinese wanted the US to cut export controls on advanced technology and retract a recent executive order restricting US investment in Chinese companies dealing with artificial intelligence, quantum computing and advanced semiconductors – requests which she said she declined.
A new working group on commercial matters – announced on Monday – could be an important mechanism to build on that part of the relationship, provided both sides have realistic expectations, she told The Straits Times. But fundamental differences will continue to exist, making robust cooperation highly unlikely, said Ms Cutler.
Ms Raimondo’s visit has been constructive, Dr Gary Clyde Hufbauer, a former US deputy assistant secretary for international trade and investment policy, told ST.In Washington, the secretary has to contend with Republicans in Congress who want to decouple from China, while the administration wants to preserve a good deal of two-way trade and investment, said Dr Hufbauer, a non-resident senior fellow at the Peterson Institute of International Economics in Washington.
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