US Commerce Secretary: Business In China 'Too Risky'

US Commerce Secretary: Business In China 'Too Risky'

Aug. 30, 2023, 8:25 a.m.

US Secretary of Commerce Gina Raimondo has held meetings with Chinese Premier Li Qiang and other leaders to discuss business ties and national security concerns.

The discussions took place in Beijing on Tuesday.

Raimondo said some American executives are concerned about Chinese trade restrictions and believe that China has become "uninvestable."

Raimondo told Li the US seeks to maintain its commercial relationship with China, which she said is worth 700 billion dollars. She added that President Joe Biden asked her to convey the message that the US does not seek to "decouple."

Li said he hopes the two countries can work "in the same direction" and that he wants the Americans to take "concrete actions" toward improving relations.

Raimondo, however, said they will not negotiate on matters of national security and ensuring that US companies are treated fairly.

She also told reporters after the meetings that American businesses in China are facing new challenges, such as unexplained fines and a lack of clarity about a revised anti-espionage law. She said US business leaders complain that China has become "too risky."

Raimondo also pressed for cooperation in areas of "global concern," including climate change, artificial intelligence and the threat posed by the drug fentanyl.

She said, as two global powers, the US and China should do what is right "for all of humanity."

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