US, China Agree to 'Increase Transparency' on Export Controls

U.S. Commerce Secretary Gina Raimondo began a four-day visit to China on Monday. She met with her Chinese counterpart, Commerce Minister Wang Wentao, where the two agreed to exchange information on U.S. export controls and increase communication on other commercial issues.

Details: An economic downturn in the Chinese economy, paired with increased restrictions placed by the Biden Administration on United States manufacturers seeking to sell processor chips and other technologies to Chinese organizations, has increased friction between the world’s largest two economies. The restrictions are aimed at preventing U.S. companies from selling technologies that have military applications to China. During Raimondo’s meeting with Wentao, she said the U.S. is “not compromising or negotiating in matters of national security” but committed to working to “increase transparency” with Beijing.

Key Quotes: Wong reportedly told Raimondo that Beijing wants to “foster a more favorable policy environment for stronger cooperation” and “bolster bilateral trade and investment.” Raimondo also reportedly told Wong, “We share $700 billion dollars of trade, and I concur with you that it is profoundly important that we have a stable economic relationship,” adding, “It's a complicated relationship; it's a challenging relationship. We will of course disagree on certain issues, but I believe we can make progress if we are direct, open, and practical.”

How the Media Covered It: The first day of Raimondo’s visit was covered moderately across the spectrum, mostly by left-rated outlets. Coverage focused heavily on China’s recent economic struggles.