The Prime Minister of China warned on Tuesday USA that the measures forpoliticize” commercial relations are “disastrous” for the world economy, according to statements collected in state media.
US Commerce Secretary Gina Raimondo is on a four-day visit to China to de-escalate tensions between the world’s two largest economies.
raimondo met on Tuesday with the Prime Minister li qiang who criticized the US trade restrictions, necessary according to Washington for its national security.
“The politicization of economic and trade affairs and the excessive extension of the concept of security will not only seriously affect bilateral relations and mutual trust”, said the prime minister to raimondoaccording to the official Xinhua news agency.
“It will also harm the interests of the companies and peoples of both countries, and will have a disastrous impact on the world economy.”, he added.
Relations between the two powers are at their lowest level in decades, partly due to US trade restrictions.
US President Joe Biden this month issued an executive order to restrict certain US investments in China in sensitive high-tech areas, a move that Beijing views as “anti-globalization”.
The new rules, which should be implemented next year, affect sectors such as semiconductors and artificial intelligence.
In this regard, the prime minister on Tuesday urged the United States to change course, saying that “the two sides should strengthen mutually beneficial cooperation, reduce friction and confrontation, and jointly promote world economic recovery and deal with global challenges.”
for his part raimondo emphasized the importance of open communication and noted areas of “global concern” such as climate change, artificial intelligence or the fentanyl crisis, assuring that Washington wants to “work with you as two global powers to do what is right for all humanity.”
“The world expects us to do more, together, to solve these problems.“, said.
“Reduce misunderstanding”
raimondo he also reiterated the US position that it is not seeking to decouple its economy from China’s.
“We seek to maintain our $700 billion trade relationship with China, and we hope that relationship can provide stability for the overall relationship.”, he indicated.
The US official also met on Tuesday with China’s Vice Premier, He Lifengand described the trade relationship between the two countries as “one of the most importants” of the world.
“Managing that relationship responsibly is essential for both of our nations and, indeed, for the entire world.”, he said during a part of the meeting open to journalists.
He also stressed that the United States “will never compromise in protecting our national security,” but insisted that Washington is not seeking “slow down China’s economy”.
raimondo he is scheduled to visit the country’s economic capital, Shanghai, on Tuesday, before returning to the United States on Wednesday.
The commerce secretary is one of a number of top US officials to visit China in recent months as part of an effort by Washington to improve relations with its biggest strategic rival.
In a meeting on Monday between the US Secretary and the Minister of Commerce, wang wentaoboth agreed to create what Washington calls a “information exchange” for “reduce misunderstanding of United States national security policies.”
However Wang said to have “serious concerns” on Washington’s trade restrictions on Chinese companies, in particular due to tariffs on Chinese products or the “discriminatory subsidies”.
Washington defends these policies as necessary to “eliminate risk” of their supply chains but Wang warned that they “go against the rules of the market and the principle of fair competition”.
Source: AFP
Source: Gestion
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