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Raimondo warns China patience of US business is 'wearing thin'

Published 09/03/2023, 10:32 AM
Updated 09/03/2023, 12:30 PM
© Reuters. U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song

By Diane Bartz and Phil Stewart

WASHINGTON (Reuters) -U.S. Commerce Secretary Gina Raimondo warned China in interviews broadcast on Sunday that the patience of U.S. business was "wearing thin," saying American companies deserved a "predictable environment and a level playing field."

The two biggest economies in the world used to be each other's largest trade partners, but Washington now trades more with neighboring Canada and Mexico, while Beijing trades more with Southeast Asia.

While in China recently, Raimondo had said there was strong appetite among U.S. businesses to make the relationship work and that, while some actions of the Chinese government were positive, the situation on the ground needed to match the rhetoric.

"China is making it more difficult," Raimondo told CBS's Face the Nation. "I was very clear with China that we need to - patience is wearing thin among American business. They need and deserve a predictable environment and a level playing field. And hopefully China will heed that message so we can have a stable growing commercial relationship."

Raimondo has said U.S. firms faced new challenges, among them unexplained large fines, raids on businesses and changes to a counterespionage law.

"I was very clear, direct and firm in all of my conversations with my Chinese counterparts," she told CNN. "I didn't pull any punches. I didn't sugarcoat anything."Raimondo also said that she had brought up to Chinese officials that her email was hacked in advance of her late August trip to China.

"They suggested that they didn't know about it and they suggested that it wasn't intentional," she told CNN. "But I think it was important that I put it on the table and let them know and let them know that it's hard to build trust when you have actions like that."

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China is grappling with a slowdown that has rattled global markets, with the spotlight now firmly focused on troubled developer Country Garden's spiraling debt crisis in a sector that contributes to roughly a quarter of the economy.

"I think there's no question that (China's economy) is slowing down. And certainly they're having real, real significant challenges in the real estate sector," she told Face the Nation.

Raimondo said China's economy did better when it was more transparent and market-oriented.

"As they have closed down and become more arbitrary in the way they administer regulations, the economy is quite challenged," she said.

Latest comments

Lies and lies typical actors politicians
China needs to decide if it is for peace, prosperity, and freedom with us, or it's for tension destruction and chaos with Puketin. They can not play both sides.
Rich coming from libs
Maybe wake up and see what is going on in the world around you. 'Libs' are not your enemy, and you are nothing but part of the problem thinking that way. So-called libs are every bit as American as you, and you just blame every single little grievance you have on them like a whining child. They did that to a certain group in Germany in the 30's too and it was the most horrendous act and thinking in human history. Wake up
so will this affect investors from china
Hypocrisy galore. Biden’s administration do everything possible to alienate China, and then complains about unfair treatment of the US companies.
'warm camp' all that time on ur knees servicing autocrat coc*s has made you oblivious to your fellow minions m(oronic) drivel like 'bejing-biden' and so on..
patron silver, you are right.
 Get back to work, little lgbt.
Since Trump and the Senate's campaign against Huawei and everything that the United States has deployed since then, it is not clear what Raimondo requires from China, which has expressed patience for that "from China." Clarify yourselves!!
if china isolat3d then with russia north korea Iran they all together make formidable foes
Legal and IP issues should have negated us from ever doing business there. During the 80s and 90s and since mfg costs are much smaller than advertising, professional services,PR or IT costs. Friendshoring was always a better solition to prevent unfair actions/thievery.
two sides of every story
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