During her visit to Beijing, U.S. Commerce Secretary Gina Raimondo made strides in enhancing bilateral ties by establishing concrete channels of communication for addressing commercial issues. Raimondo expressed optimism, stating, “I hope that this becomes a moment where we start to see action.”

Raimondo met with Premier Li Qiang, Vice Premier He Lifeng, Commerce Minister Wang Wentao, and Minister of Culture and Tourism Hu Heping during her two-day visit.

Key Agreements Reached

• Establish a commercial issues working group between the commerce departments, with meetings scheduled twice a year at the vice minister level and once at the minister level. The U.S. will host the first meeting in early 2024.
• Launch an export control enforcement information exchange, with the first in-person meeting taking place at the assistant secretary level at the Ministry of Commerce in Beijing.
• Hold the 14th China-U.S. Tourism Leadership in China during the first half of 2024.
• Arrange technical discussions between experts from both sides on protecting trade secrets during administrative licensing proceedings.
• Facilitate informal discussions as frequently as needed between Wang and Raimondo.

U.S. Ambassador to China Nicholas Burns emphasized the significance of this visit, as it reinstated high-level commercial dialogue, which had been absent in the past.

Ensuring Effective Communication Amidst Challenges

Ambassador Burns highlighted the importance of allowing room for tough conversations and fostering mutual understanding. He stressed, “In a very, very challenging relationship, intensive diplomacy is critical.”

Raimondo’s visit follows a series of recent trips by U.S. officials to China, demonstrating a renewed commitment to engaging with one another despite the strained bilateral relationship.

No Compromise on National Security

In response to China’s concerns about U.S. tariffs, export controls, and investment restrictions, Raimondo firmly stated, “We don’t negotiate on matters of national security.”

The U.S. recently implemented export controls in the semiconductor sector, and President Joe Biden signed an executive order restricting investments into Chinese tech companies for national security reasons.

Importance of Stable Economic Relations

An unstable economic relationship between China and the United States is bad for the world.

Gina Raimondo

U.S. Commerce Secretary

Raimondo recognized the negative implications of an unstable economic relationship between China and the United States, stating, “An unstable economic relationship between China and the United States is bad for the world.” However, she acknowledged the increasing challenges faced by businesses operating in China due to the uncertain regulatory environment.

China has taken measures to attract foreign investment, but Raimondo suggested addressing these concerns to restore confidence and promote stability.

During her visit to Shanghai, Raimondo is scheduled to meet with local officials and visit Shanghai Disney, which reported record-high revenue and operating income in the latest quarter.