US Commerce Secretary Gina Raimondo has emphasized the need for a more predictable business environment for American companies in China. In an interview with CNBC, Raimondo stated that while there is an appetite for US business to continue operating in China, the current playing field is unlevel and unpredictable. During her visit to China, Raimondo met with government officials in Beijing and Shanghai, making her the first US Commerce Secretary to travel to the country in five years. The Trump administration’s imposition of tariffs on China in 2018, along with restrictions on Chinese companies’ ability to buy from US suppliers, was prompted by issues such as forced tech transfers and preferential treatment for local companies. Raimondo reiterated the importance of national security and stated that advanced technology from the US should not advance China’s military capabilities. The US Department of Commerce’s Bureau of Industry and Security has already implemented export controls to limit Chinese access to advanced semiconductors. Raimondo called for concrete actions from China to create a more predictable business environment, as words alone are not enough. Foreign business organizations have noted improvements in China’s protection of intellectual property and efforts to improve its court system. Additional communication channels between the US and China have been established to address commerce, export controls, and trade secrets. Stephen Olson, a senior research fellow at the Hinrich Foundation, stated that increased communication alone may not lead to real breakthroughs, as the US is simultaneously restricting China’s access to critical technologies while seeking trade and investment opportunities. Raimondo concluded her trip with a visit to Boeing executives in Shanghai, hinting at a potential deal as an example of action.
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