U.S. Trade Secretary Gina Raimondo speaks all through a Reuters interview on the Section of Trade in Washington, September 23, 2021.
Kevin Lamarque | Reuters
U.S. Secretary of Trade Gina Raimondo is ready to meet with senior Chinese officials and U.S. trade leaders in Beijing as the 2 nations proceed high-level talks.
Her shuttle is a the most important but additionally a difficult one to tread with U.S.-China financial ties putting within the stability, in step with a former senior U.S. diplomat.
“Gina Raimondo’s trip is going to be a tricky one, because she is going to have to talk to the Chinese about their concerns about the U.S. trying to contain the Chinese economy and throttle their development,” Susan Thornton instructed CNBC’s “Squawk Box Asia.”
Thornton prior to now served as performing associate secretary for East Asian and Pacific Affairs on the Situation Section. She mentioned Raimondo would wish to “get some business done for U.S. businesses,” on supremacy of marketing and stabilizing business family members with China.
“So it’s a tough visit. But I think it’s one that the Chinese are welcoming and want to see some positive statements come out of,” mentioned Thornton, who’s now a senior fellow on the Paul Tsai China Heart at Yale Legislation Faculty.
Raimondo arrived in Beijing on Sunday night time, starting a discuss with which got here on the invitation of her counterpart, Chinese language Minister of Trade Wang Wentao.
In a gap remark, Wang mentioned China is able to paintings in combination to “foster a more favorable policy environment” for U.S. and Chinese language companies.
Pieces on Raimondo’s time table most probably come with making improvements to tourism, export controls and cross-border information flows, Thornton mentioned.
In step with the U.S. Journey Affiliation, China used to be the most important supply of out of the country vacationers to the U.S. in 2019 and outbound journey this life from China to the U.S. has handiest recovered to 30% of the degrees perceivable in 2019.
When requested whether or not price lists imposed by means of former President Donald Trump might be reversed, Thornton mentioned: “I don’t think that that’s going to be happening as a result of this trip.”
The Chinese language financial system is in “much more difficulty” than what family this week terminating life estimated, she mentioned.
“I think the U.S. at the same time also sees dangers from the faltering Chinese economy, which will have global repercussions but certainly also for the U.S. economy,”
China not too long ago reported second-quarter rude home product underneath expectancies, in addition to file imposing early life unemployment ahead of postponing the breakdown of the whole figures.
“It’s in our interest as well to try to stabilize the trading relationship between the two biggest economic powers in the world,” mentioned Thornton.
—CNBC’s Evelyn Cheng contributed to this record.