Raimondo urges China to be more friendly towards US business.
Commerce Secretary Gina Raimondo Calls for a Better Relationship with China
During her appearance on MSNBC’s Meet the Press, Commerce Secretary Gina Raimondo emphasized the importance of China’s self-interest in fostering a more positive relationship with the United States. Raimondo expressed hope that Chinese officials would recognize the benefits of being less antagonistic towards U.S. business.
Encouraging Market-Oriented Reforms
“It’s clearly true, the facts speak for themselves on this one, that when China was more market-oriented and reform-minded, their economy — you know, they lifted hundreds of millions of people out of poverty,” Raimondo said. “It’s that it does seem to be true that it’s in their self-interest to be less antagonistic to U.S. business.”
Raimondo also highlighted President Joe Biden’s executive order aimed at restricting investments in China’s development of military-grade semiconductors. This includes withholding the sale of advanced American-made chips to China.
“We are not going to, currently on my watch, we are not going to sell the most sophisticated American chip to China that they want for their military capacity,” Raimondo said. “Well, we are trying to choke their military capacity, so if they feel that, that means the strategy is working.”
Furthermore, Raimondo assured that the U.S. would not engage in business with any company that sells chips to China. The executive order already mandates U.S. investors to disclose any previous transactions with Chinese businesses involved in specific industries.
Despite Raimondo’s efforts, some Republicans have criticized the effectiveness of the executive order. House Foreign Affairs Committee Chairman Michael McCaul (R-TX) argued that it is too narrowly focused, while Sen. Marco Rubio (R-FL) claimed that it fails to include industries deemed critical by China’s government.
The White House has already taken action by blocking the sale of Nvidia’s highest-grade microchips in the Middle East due to concerns that they could end up in China.
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