US Commerce Secretary: "We will protect our workers"

US Trade Secretary Gina Raimondo, in a speech before her meeting with counterpart Wang Vintao during her visit to China, signaled that Washington’s strategy of relying on cheap labor abroad, primarily in China, would be changing, and emphasized that they would “protect American workers.” US Trade Secretary Gina Raimondo met with her Chinese counterpart Wang Vintao during her visit to China. Visiting the country at a time when geopolitical competition and political tensions are increasing between the US and China, Raimondo gave the message that there is “no room for compromise or negotiation” on trade and investment issues concerning national security. In a speech before the meeting, Raimondo signaled that Washington’s strategy of relying on cheap labor abroad, primarily in China, would be changing, and said, “We will do whatever is necessary to protect American workers under all circumstances.” Raimondo emphasized that the steps taken by the government led by US President Joe Biden to strengthen the American economy are not trying to hinder China's economic development, and said, "There is no room for compromise and negotiation on national security issues. However, as you have stated, the majority of our trade and investment relations are not related to national security concerns. We are determined to develop trade and investment in these areas in a way that will benefit both countries." Raimondo said that disagreements are natural due to the "complex and problematic" nature of the relations between the two countries. However, Raimondo stated that progress can be achieved with an open, direct and practical approach, and said, "The economic relationship between the US and China is one of the most important relationships in the world in terms of its results. We share a trade volume of $700 billion. Having stable economic relations is both beneficial for our countries and what the world expects from us." “We will do whatever it takes to protect the American worker” Raimondo underlined that under Biden’s leadership, the US has made a historic investment move in infrastructure, people, manufacturing and supply chains, and said, “I want to make it clear that investment is and will continue to be central to this strategy. Our strategy aims to reduce risks in the supply chain, strengthen our country and infrastructure, and create jobs.” Underlining that the US administration’s economic strategy does not try to hinder China’s economic development, Raimondo said, “We believe that it is a good thing for China to have a strong economy. As President Biden has made clear many times, we want healthy competition with China. A growing Chinese economy that plays by the rules of the game is in the interests of both parties. Therefore, we want to make sure that the conditions are equal and we will do whatever it takes to protect the American worker under all circumstances.” US and China to establish a working group on trade issues On the other hand, in a written statement from the US Department of Commerce, it was reported that Raimondo met with Chinese Trade Minister Wang Vintao to develop the US’s trade and strategic interests. The statement noted that Raimondo emphasized the importance of maintaining open lines of communication between the US and China, and that she has taken concrete steps to achieve this goal. The statement reported that Raimondo and Wang agreed to establish a new working group and advisory mechanism on trade issues, consisting of government officials and private sector representatives, to find solutions to trade and investment issues and to advance US commercial interests in China. The statement noted that it was decided that the working group would meet twice a year at the deputy ministerial level, and that an agreement was reached for the US to host the first meeting in early 2024. The statement also noted that an agreement was reached to initiate information exchange on export control practices, and that this would serve as a platform to reduce misunderstandings regarding US national security policies, and that the first face-to-face meeting would be held in Beijing on August 29. The statement also stated that it was decided that experts from both sides would come together to hold technical discussions on strengthening the protection of trade secrets and confidential commercial information during administrative licensing procedures, and that it was also agreed to establish regular communication at the ministerial level on trade and economic issues and to meet face to face at least once a year. Fourth high-level visit by the US administration The US Minister arrived in China last night for a four-day visit. Raimondo’s visit is the fourth high-level visit by officials from the Biden administration to China this year. Following Secretary of State Antony Blinken’s visit in June, Treasury Secretary Janet Yellen and Special Envoy for Climate Change John Kerry visited the country in July. US Commerce Secretary Gina Raimondo is expected to meet with her counterpart Wang, as well as Premier Li Jiang and Vice Premier for the Economy He Lifing in Beijing. After Beijing, Raimondo will visit Shanghai, where she will meet with local officials and representatives of American companies doing business in China.