U.S. businesses are getting fed up with trying to deal with the unpredictability of China, according to a top Biden administration official.
Commerce Secretary Gina Raimondo, who appeared for multiple interviews on Sunday to talk about her recent trip to China, told CBS News’ “Face the Nation” that creating a fair and competitive environment was a pressing issue amid concerns about opaque regulations, raids by Chinese authorities, and preserving trade secrets.
“I’ll tell you, prior to going to China, I personally spoke with more than 100 U.S. business leaders and labor leaders. And what they tell me is that even the ones that have been doing business in China for decades, you know, these are sophisticated people used to dealing with the traditional concerns of, you know, IP theft or non-market practices,” Raimondo said.
“They say, it’s much harder now, right? Like China is making it more difficult because of the reasons you say the — raids, the counter-espionage law….