(Return recordsdata to switch merchandise tag to China-USA/)
SHANGHAI (Reuters) – U.S. Senate Majority Chief Chuck Schumer arrived in China on Saturday on the head of a bipartisan congressional delegation and commenced a sequence of conferences on this planet’s second-largest financial system amid rising tensions between Washington and Beijing.
US officers stated the purpose of the journey to Asia, which incorporates stops in South Korea and Japan, is to advance US financial and nationwide safety pursuits, and in China, the group hopes to satisfy with Chinese language President Xi Jinping.
After passing a sweeping invoice final yr to spice up competitors with China in semiconductors and different expertise, Schumer and Democratic committee leaders stated in Might they might write laws to restrict the circulation of expertise to China, deter it from beginning a battle with Taiwan and tighten guidelines. To stop American capital from going to Chinese language firms.
Schumer “will deal with the necessity for reciprocity in China for American firms that can degree the taking part in discipline for American staff, in addition to on sustaining U.S. management in superior applied sciences for nationwide safety,” his workplace stated.
The journey follows visits by a sequence of high-level Biden administration officers, together with Commerce Secretary Gina Raimondo in August.
The group of six senators, co-chaired by Republican Mike Crapo, will meet with authorities and enterprise leaders within the three international locations they’re visiting, and with American firms working within the area.
Different senators on the journey embrace Republicans Invoice Cassidy and John Kennedy and Democrats Maggie Hassan and Jon Ossoff. The group landed at Shanghai’s Pudong Airport at 2 p.m. (0600 GMT).
China’s Overseas Ministry stated this week that China welcomes Schumer’s go to and hopes it can deepen the US Senate’s “goal” understanding of China and facilitate dialogue between the 2 international locations’ legislative our bodies.
The Biden administration has imposed restrictions on chip exports to China, saying they intention to disclaim it entry to superior expertise that would improve army advances or rights abuses. China responded with accusations of financial coercion.
Raimondo stated in August that US firms had complained to her that China had turn into “uninvestable,” citing fines, raids and different measures that make doing enterprise there too dangerous. She added: “For American firms in lots of instances, persistence is operating out, and it’s time to act.” (Writing by Antoni Slodkowski; Enhancing by Robert Birsel)