U.S. Secretary of Commerce Gina Raimondo will meet with Chinese officials and American business leaders in Beijing and Shanghai next week amid efforts to stabilize relations that have sunk to historic lows.
Raimondo last met with Wang in Washington in May to discuss trade issues. Trade tensions have only ramped up since then.on Aug. 9 to impose blocks and regulations on U.S. high-tech investment in China, reflecting the intensifying competition between the world’s two largest economies.
Senior administration officials said the effort is narrow in scope and related more to national security than economic interests. It seeks to blunt China’s ability to use U.S. investments to upgrade its military capabilities, while also preserving broader levels of trade that are vital for both nations’ economies.
Biden officials have insisted that they have no interest in economic “decoupling” from China. Yet, the administration also has limited the export of advanced computer chips and retained the expanded tariffs set up by former President Donald Trump.on foreign companies, prompting a loss of confidence and the shifting of investment plans by global companies to other countries.
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