Sat. Oct 23rd, 2021

U.S. Trade Secretary Gina Raimondo said the Biden administration would encourage U.S. businesses to trade with China, even as Washington takes an increasingly difficult stance on Beijing on human rights and national security.

Raimondo promised to help U.S. businesses gain access to China’s markets, saying she herself tried to travel there once the coronavirus pandemic was eased.

“There is no point in talking about decoupling,” Raimondo told reporters on Monday. “As the President has said, we have no interest in a cold war with China. It’s too big an economy – we want access to their economy, they want access to our economy “.

Raimondo’s remarks come as Washington and Beijing mock China military activities around Taiwan, the treatment of Uyghurs in the Xinjiang region and the struggle against democracy in Hong Kong.

Earlier this month, President Joe Biden held his second call with Chinese leader Xi Jinping since he became president in an attempt to break the deadlock after a large-scale meeting between top US and Chinese officials ended in March.

The Biden administration is reviewing the technological movements of the Trump era, but the U.S. Department of Commerce still has Chinese businesses on the so-called. entity list, which means that US businesses need a license to sell sensitive technology to them.

Raimondo said she wanted to work with Europe to bring sensitive technology export restrictions to Chinese companies in line with the US export control regime, and would discuss the issue this week in Pittsburgh, where US and EU officials will discuss trade and supply. . chain issues.

She said the US “needs to figure out how to engage in serious, ongoing commercial activities” without undermining national security.

“One-sided export controls are not effective, because when we say to American companies, ‘You may not sell such equipment to such a Chinese company,’ but they get the same from Europe or a European seller. “All we are doing is hurting American companies and depriving them of revenue,” said Raimondo, a former governor of Rhode Island.

Washington has so far not revealed the results of its review of US trade policy towards China, and has left Donald Trump’s service Chinese import tariffs intact.

Under Trump, the US has a ‘Phase 1’ trade transaction with China, interrupting a rapidly escalating trade war that is shaking global financial markets. Under its terms, China has promised to significantly increase purchases of U.S. products, including soybeans and energy products.

Data suggests that the country falls short of the purchase intentions. Raimondo said China had not even fulfilled its obligations under the agreement.

“I work and will continue to work with the administration to hold China accountable,” she said, adding that she had ‘clear eyes’ on a ‘complicated relationship’.

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