U.S. hopes for results on trade issues with China in next few months

U.S. Commerce Secretary Gina Raimondo on Wednesday expressed hope for “some results” in the next few months on issues such as export controls, having agreed with her Chinese counterpart to launch dialogue platforms.

Speaking to reporters in Shanghai before wrapping up her four-day visit to the Asian country, Raimondo said she hopes the new mechanisms will increase transparency and channels of communication and allow American companies in China to “compete in a fair and predictable business environment.”

She also said although protection of U.S. national security is “not negotiable,” Washington does not intend to decouple from China or work to “hold back” the world’s second-largest economy.

Raimondo agreed with Chinese Commerce Minister Wang Wentao on Monday to establish a platform to exchange information on export control enforcement, covering semiconductors and advanced technology such as artificial intelligence. Its first meeting was held on Tuesday.

The two also agreed to launch a new working group to seek solutions on trade and investment issues and committed to holding in-person meetings at least once a year to facilitate discussions on commercial and economic issues.

Bilateral tensions have grown recently over tit-for-tat export control measures on items related to semiconductors.

The commerce secretary’s visit, following a series of recent China trips by senior U.S. officials, came as Washington and Beijing explore a potential summit between President Joe Biden and his Chinese counterpart, Xi Jinping, later this year.

Increased communication has been taking place between the two countries, even though significant disagreements persist across nearly all major political and economic matters.