Opening channels of communication is essential ozpn to preserve. The positive economic ties that exist between the US and China. US Commerce Secretary Gina Raimondo said Dana Bash on Sunday.
Last Monday, Raimondo returned from a four-day trip to the second-largest economic power in the world. She is the first secretary of commerce to travel to China in five years and the fourth member of the cabinet to do so this year. The key to her trip was having a candid conversation while taking a firm stance.
“State of the Union,” she stated, “We know for a fact that not talking leads to escalation, miscalculation, and misunderstanding. Which is harmful for the American people. American employees suffer as a result. It compromises our country’s security. The idea that talking and speaking are signs of weakness is not one I subscribe to.
She emphasized that maintaining the $700 bilion bilateral connection is beneficial for both the two countries. In question and the world economy as a whole. A trade battle over semiconductors, which are used to produce chips for automobiles, smartphones, high-end computers, and weaponry systems. Has been a major stumbling block in the relationship.
Last October, the Biden administration unveiled a comprehensive set of export prohibitions that forbade Chinese corporations from acquiring sophisticated semiconductors and chip-making machinery without a permit.
In addition, the law limits the support that “US persons” (including US citizens and holders of green cards) may give to the “development or production” of chips at specific Chinese manufacturing sites.
China retaliated earlier this summer by enacting its own export restrictions on germanium and gallium, the raw ingredients needed to make chips. The US does not wish to entirely disconnect from China when it comes to these semiconductors and chips, Raimondo made plain during her visit to China.
Every year, we send billions of dollars’ worth of chips to China. That is advantageous for American firms and the economy.