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☆ Apple lost over $200 billion in market value in two days. Here's where Jim Cramer stands on the stock
▼ + stars: | 2023-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Jim Cramer said Thursday he stands by the Club's "own it, don't trade it" designation on Apple, which was on a two-session losing streak that wiped out more than $200 billion in market value in the stock. "If I really felt like a disaster was coming, I would suspend" our mantra of "own it, don't trade it" on Apple stock, Jim Cramer said during the Club's Morning Meeting on Thursday. Apple is also extending efforts into emerging economies such as India, which like China has roughly 1.4 billion people. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, shouldn't, Jim, Gina Raimondo, isn't, Apple, Wamsi Mohan, Daniel Ives, Ives, Jim Cramer's Organizations: Apple, Big Tech, Street Journal, Huawei, U.S . Commerce, Bloomberg, Bank of America, Wedbush Securities, U.S, The, CNBC, S3studio, Getty Locations: China, America, Beijing, Americas, Europe, India, Mong Kok District, Hong Kong

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON, Sept 6 (Reuters) - The office of U.S. Trade Representative Katherine Tai on Wednesday further extended China "Section 301" tariff exclusions on 352 Chinese import and 77 COVID-19-related categories till Dec. 31 that were set to expire on Sept. 30. THE TAKEThe import tariff exclusions include industrial components such as pumps and electric motors, some car parts and chemicals, bicycles and vacuum cleaners. The COVID-related exclusions include medical products like face masks, examination gloves and hand sanitizing wipes. * The Trump administration had used Section 301 of the Trade Act of 1974, a statute aimed at combating trade partners' unfair practices, to launch the China tariffs. * China last week urged Chinese companies investing in the U.S. to be given "equal treatment" and called U.S. 301 tariffs on Chinese imports "discriminatory," when Raimondo visited Beijing.

Persons: Katherine Tai, Gina Raimondo, Rebecca Cook, Donald Trump, Trump, Raimondo, Kanishka Singh, Jonathan Oatis, Josie Kao Organizations: . Trade, U.S . Commerce, Detroit , Michigan U.S, REUTERS, Rights, . U.S . Commerce, U.S, misappropriating, Trade, Thomson Locations: U.S, Detroit , Michigan, China, ., misappropriating U.S, Beijing, Taiwan, Washington

☆ China bans govt officials from using iPhone for work -WSJ
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. The orders were given by superiors to their staff in recent weeks and it wasn't clear how widely the orders were being distributed, the WSJ said. China has in recent years grown more concerned over data security and has rolled out new laws and compliance requirements for companies. The latest restriction by China mirrors similar bans taken in the United States against Chinese smartphone maker Huawei and short video platform TikTok, owned by China's ByteDance. China is one of Apple's biggest markets and generates nearly one-fifth of its revenue.

Persons: Thomas Peter, Gina Raimondo, China's ByteDance, Baranjot Kaur, Savio D'Souza, Miral Organizations: Apple, REUTERS, Wall Street, China's, Information Office, Washington, planemaker Boeing, Micron Technology, . Commerce, Huawei, Thomson Locations: Beijing, China, Sino, U.S, United States, Bengaluru

☆ Commerce Sec. Raimondo: U.S. businesses are saying the risk of doing business with China is too high
▼ + stars: | 2023-09-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommerce Sec. Raimondo: U.S. businesses are saying the risk of doing business with China is too high'Mad Money' host Jim Cramer sits down to talk China with U.S. Commerce Secretary Gina Raimondo.

Persons: Raimondo, Jim Cramer, Gina Raimondo Organizations: Commerce, U.S . Commerce Locations: China

The difficulty of this achievement also shows the resilience of the country’s chip technological ability," TechInsights analyst Dan Hutcheson said. EUV refers to extreme ultraviolet lithography and is used to make 7 nm or more advanced chips. LIMITED ACHIEVEMENTThe most advanced chip SMIC had previously been known for making was 14nm, as it was barred by Washington in late 2020 from obtaining an EUV machine from Dutch firm ASML (ASML.AS). But TechInsights last year said it believed SMIC had managed to produce 7 nm chips by tweaking simpler DUV machines it could still purchase freely from ASML. Jefferies analysts reckon Huawei is preparing to ship ten million units of the Mate 60 Pro, though it may struggle to support that quantity with China-made 7 nm chips.

Persons: Gina Raimondo's, chipmaker SMIC, Dan Hutcheson, EUV, Jefferies, TechInsights, SMIC, Tilly Zhang, Dragonomics, Zhang, Doug Fuller, David Kirton, Max Cherney, Brenda Goh, Miyoung Kim, Nick Zieminski Organizations: FRANCISCO, Huawei Technologies, U.S, Huawei, U.S . Commerce, Kirin, HK, U.S . Commerce Department's, of Industry, Security, China, U.S . Department of Commerce, China's State Council, Reuters, Copenhagen Business School, Thomson Locations: SHENZHEN, China, California, Washington, Ottawa, U.S, China's, Netherlands

☆ Commerce Secretary Raimondo: U.S. businesses are 'desperate for some kind of dialogue' with China
▼ + stars: | 2023-09-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

In an interview with CNBC's Jim Cramer on Tuesday, U.S. Commerce Secretary Gina Raimondo stressed the importance of communication in fostering the country's economic relationship with China. Raimondo said U.S. businesses are "desperate" for dialogue. "I did, myself, personally, talk to over a hundred CEOs of U.S. businesses before going to China, and to say that they were desperate for some kind of a dialogue is not an exaggeration," Raimondo said. U.S. businesses need a "level playing field" in China, Raimondo said, as many fear raids or unpredictable government action toward their companies. The Commerce secretary also touched on artificial intelligence.

Persons: CNBC's Jim Cramer, Gina Raimondo, Raimondo, I'm, " Raimondo Organizations: . Commerce, U.S . Commerce Locations: China, Beijing, Shanghai, U.S

☆ When it comes to AI it is better to be safe than sorry, says Commerce Secretary Gina Raimondo
▼ + stars: | 2023-09-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

When it comes to AI it is better to be safe than sorry, says Commerce Secretary Gina Raimondo'Mad Money' host Jim Cramer sits down to talk China with U.S. Commerce Secretary Gina Raimondo.

Persons: Gina Raimondo, Jim Cramer Organizations: U.S . Commerce Locations: China

☆ Teardown of Huawei's new phone shows China's chip breakthrough
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] A staff member introduces the new Huawei Mate 60 smartphone to customers at the Huawei flagship store in Shenzhen, Guangdong province, China August 30, 2023. Huawei's Mate 60 Pro is powered by a new Kirin 9000s chip that was made in China by Semiconductor Manufacturing International Corp (SMIC), TechInsights said in the report shared with Reuters on Monday. Huawei started selling its Mate 60 Pro phone last week. The specifications provided advertised its ability to make satellite calls, but offered no information on the power of the chipset inside. Buyers of the phone in China have been posting tear-down videos and sharing speed tests on social media that suggest the Mate 60 Pro is capable of download speeds exceeding those of top line 5G phones.

Persons: David Kirton, Huawei's, TechInsights, Gina Raimondo, Dan Hutcheson, " Raimondo, Shivani Tanna, Max A, Sandra Maler Cherney, Shilpi Majumdar Organizations: Huawei, REUTERS, Huawei Technologies, HK, Semiconductor Manufacturing International Corp, Reuters, Bloomberg News, SMIC, U.S . Commerce, Thomson Locations: Shenzhen, Guangdong province, China, Kirin, U.S, SMIC, Bengaluru, Max, San Francisco

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. "China is making it more difficult," Raimondo told CBS's Face the Nation. "I was very clear with China that we need to - patience is wearing thin among American business. "They suggested that they didn't know about it and they suggested that it wasn't intentional," she told CNN. And certainly they're having real, real significant challenges in the real estate sector," she told Face the Nation.

Persons: Gina Raimondo, Aly, China, Raimondo, CBS's, " Raimondo, Diane Bartz, Phil Stewart, Mary Milliken, Deepa Babington Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Garden Holdings, WASHINGTON, . Commerce, CNN, HK, Thomson Locations: Shanghai Pudong, Shanghai, China, Washington, Canada, Mexico, Beijing, Southeast Asia, U.S

☆ U.S. Commerce Secretary says she 'didn't pull any punches' during recent visit to China
▼ + stars: | 2023-09-03 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

U.S. Commerce Secretary Gina Raimondo arrives for a meeting with her Chinese counterpart Wang Wentao, at the Ministry of Commerce in Beijing, Monday, Aug. 28, 2023. U.S. Commerce Secretary Gina Raimondo met with Chinese officials in a high-stakes visit to Beijing and Shanghai this week, and she said Sunday that the trip helped establish open lines of communication between the two nations. Raimondo is the fourth high-level U.S. official to visit China this summer, but she is the first U.S. Commerce secretary to travel to the country in five years — a period where the bilateral relationship has grown increasingly tense. The Commerce secretary's trip to China followed recent visits from U.S. special envoy for climate John Kerry, U.S. Treasury Secretary Janet Yellen and U.S. Secretary of State Antony Blinken. Raimondo said Sunday that the export controls are about national security, not about gaining an economic advantage.

Persons: Gina Raimondo, Wang Wentao, Raimondo, NBC's, John Kerry, Janet Yellen, Antony Blinken Organizations: Commerce, Ministry of Commerce, . Commerce, U.S . Commerce, China, Press, U.S, Treasury, U.S . Department of Commerce's, of Industry, Security, Sunday Locations: Beijing, Shanghai, China, U.S

☆ Bill Richardson, U.S. diplomat and troubleshooter, dead at 75
▼ + stars: | 2023-09-02 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

As a congressman in 1994, Richardson visited reclusive communist-ruled North Korea to discuss a nuclear accord struck by Clinton. As Richardson was traveling to the country, North Korea shot down a U.S. military helicopter that had entered its territory, killing one pilot and capturing the other. Richardson stayed for weeks to negotiate, flying home with the dead pilot's remains while the surviving pilot was released soon thereafter. In 1996, Richardson negotiated the release of an American named Evan Hunziker, jailed on spy charges in North Korea. Richardson later attended a prep school in Massachusetts, where he became a star baseball pitcher with dreams of a professional career.

Persons: New Mexico Bill Richardson, Gus Ruelas, Bill Richardson, Richardson, Mickey Bergman, Bergman, Bill Clinton, you've, You've, Barack Obama, Obama, Danny Fenster, Clinton, Evan Hunziker, Saddam Hussein, Fidel Castro, William Blaine Richardson, Will Dunham, Lucia Mutikani, Rosalba O'Brien Organizations: University of Southern California's Schwarzenegger Institute for State, Global, REUTERS, Rights, New, Richardson Center, U.S, Richardson, Democratic, U.S . House, Representatives, United Nations, Foreign Policy, Cuban, Citibank, Tufts University, State Department, Thomson Locations: New Mexico, Los Angeles , California, U.S, Chatham , Massachusetts, Mexican, American, United States, North Korea, Myanmar, Sudan, Iraq, Iran, Cuba, New Hampshire, Iowa, Korean, Kuwait, Iraqi, Miami, Pasadena , California, Mexico City, Oaxaca, Massachusetts, Washington

☆ Has Huawei overcome U.S. sanctions by developing its own 5G chip?
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

A staff member introduces the new Huawei Mate 60 smartphone to customers at the Huawei flagship store in Shenzhen, Guangdong province, China August 30, 2023. The U.S. and some European countries have called Huawei a security risk, which the company denies. IS THE MATE PRO 60 A 5G PHONE? Huawei has kept mum, only saying that the smartphone is the "most powerful Mate model ever". Several Huawei staff said the phone's launch had taken them by surprise, with its official release initially scheduled for Sept. 12.

Persons: David Kirton, Dan Hutcheson, Hutcheson, Gina Raimondo, Nicole Peng, Mo Yelin, Max Cherney, Robert Birsel Organizations: Huawei, REUTERS, Rights, Huawei Technologies, U.S, Apple, Samsung, Reuters, China's Semiconductor Manufacturing International, HK, Global Times, . Commerce, ., Thomson Locations: Shenzhen, Guangdong province, China, Rights SHENZHEN, U.S, Kirin, SMIC, Weibo, Mo, Beijing, San Francisco

The Chinese national flag is seen in front of the financial district Central on the Chinese National Day in Hong Kong, China October 1, 2022. Most were on the fund's private equity team and were informed early last month, according to two of the people. CPP, which employs more than 150 people in Hong Kong, its Asia hub, declined to comment. The Ontario Teachers' Pension Plan (OTPP) closed down its China equity investment team based in Hong Kong in April, Reuters has reported. There have been $3.2 billion worth of acquisitions of firms in China by private equity so far this year.

Persons: Tyrone Siu, Gina Raimondo, Canada's, Michel Leduc, Julie Zhu, Kane Wu, Edwina Gibbs Organizations: REUTERS, Investments, U.S, . Commerce, The Ontario Teachers, Reuters, Caisse, Financial Times, Thomson Locations: Central, Hong Kong, China, HONG KONG, Asia, Canada, U.S, Washington, Shanghai

☆ China says the best way to 'de-risk' is to restore stability with the U.S.
▼ + stars: | 2023-09-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mandel Ngan | Afp | Getty ImagesBEIJING — China's Ministry of Commerce said Thursday that restoring stability in U.S.-China trade relations is the best way to "de-risk" — a twist to a term that's become popular in international politics. That also "allows bilateral economic trade relations to better play the role of 'ballast,' stabilizing business expectations and increasing business confidence for carrying out trade and investment." In November last year, U.S. President Joe Biden and Chinese President Xi Jinping met in Bali, Indonesia, for their first in-person meeting since Biden took office. Their meeting kicked off formal plans for U.S. Secretary of State Antony Blinken and other U.S. senior officials to visit China this year. Following her meetings, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets.

Persons: Joe Biden, Xi Jinping, Roosevelt, Mandel Ngan, Shu Jueting, Biden, Antony Blinken, Scott Kennedy, International Studies Shu, Wang Wentao, Gina Raimondo, Shu, Raimondo, Wang, CNBC's Eunice Yoon Organizations: White, Afp, Getty, BEIJING, China's Ministry of Commerce, Ministry of Commerce, CNBC, U.S, Scott, Scott Kennedy Center for Strategic, International Studies, Commerce, Center for Strategic, . Commerce Locations: Washington ,, China, Bali, U.S, Bali , Indonesia, Beijing, Shanghai, America

☆ Commerce Secretary Raimondo: China needs a predictable regulatory environment
▼ + stars: | 2023-08-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommerce Secretary Raimondo: China needs a predictable regulatory environmentGina Raimondo, U.S. Commerce Secretary, joins 'Squawk on the Street' to discuss the expected results from Secretary Raimondo's visit to China, what actions Raimondo hopes we'll see from Beijing, and more.

Persons: Raimondo, Gina Raimondo, Raimondo's, we'll Organizations: Email, . Commerce Locations: China, Beijing

☆ China says drop in trade with the U.S. is 'a direct consequence of U.S. moves'
▼ + stars: | 2023-08-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Jason Lee | ReutersBEIJING — China's ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries. "This is a direct consequence of U.S. moves to levy Section 301 tariffs on Chinese imports, abuse unilateral sanctions and further tighten up export controls," he said. China's trade partnersThe U.S. is China's largest trading partner on a single country basis. Following her meetings with Chinese government officials, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets. Xie claimed that average U.S. tariffs on Chinese products were 19%, while the Chinese tariffs on U.S. goods averaged 7.3%.

Persons: Jason Lee, Xie Feng, Xie, Gina Raimondo's, Raimondo, Trump, Joe Biden, Janet Yellen Organizations: Reuters, Reuters BEIJING —, Forbes, U.S, China Business Forum, European Union and Association of Southeast, . Commerce Secretary, . Commerce, The Locations: Washington, Beijing, Taiwan, South China, Reuters BEIJING, U.S, China, New York, U.S . China, United States, Nations, France, Japan, The U.S

☆ Disney diplomacy: US commerce secretary visits China theme park
▼ + stars: | 2023-08-30 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/3] U.S. Commerce Secretary Gina Raimondo, is escorted by officials as she tours the Shanghai Disneyland in Shanghai, China, Wednesday, Aug. 30, 2023. After a four-day visit largely filled with long sessions in rooms with Chinese government officials, Raimondo got a quick tour of the Disney park. Ambassador to China Nicholas Burns, confessed she had never before been to a Disney park but said she had seen all of the animated Disney movies. Disney has emphasized its Chinese links since Shanghai Disneyland - a joint venture with state-owned Shendi Group - opened in 2016. Raimondo has said that boosting tourism between the two countries was one objective of her visit to China.

Persons: Gina Raimondo, Andy Wong, Raimondo, " Raimondo, China Nicholas Burns, Taylor Swift, Wolfgang Puck, Mickey Mouse, David Shepardson, Angus MacSwan Organizations: . Commerce, Shanghai, REUTERS Acquire, Rights, Boeing, Disney, U.S, Shendi, New York University, Thomson Locations: Shanghai, China, Disney

U.S. Commerce Secretary Gina Raimondo talks to Chinese Premier Li Qiang during a meeting at the Great Hall of the People in Beijing, China Tuesday, August 29, 2023. "China is actively advancing its high-level opening-up and making efforts to provide a world-class, market-oriented business environment governed by a sound legal framework," he said. Asked what her message was to U.S. business in China, Raimondo said: "The message is to continue to do what you're doing. She is pressing China to take actions to improve business conditions. That sentiment was echoed by Jens Eskelund, president of the European Union Chamber of Commerce in China, who said "'uninvestible' is not a term we would use to describe China", instead describing it as "under-invested."

Persons: Gina Raimondo, Li Qiang, Andy Wong, Biden, Raimondo, Liu Pengyu, Michael Hart, Hart, Jens Eskelund, Chen Jining, Chen, Walt Disney, David Shepardson, Andrea Shalal, Nicoco Chan, Jason Xue, Joe Cash, Martin Quin Polland, Lun Tian, Laurie Chen, Sandra Maler, Robert Birsel Organizations: Commerce, of, People, REUTERS Acquire, Rights, . Commerce, U.S . Commerce Department, Global, American Chamber of Commerce, European Union Chamber of Commerce, chipmaker Micron Technology, Micron, Shanghai, Shanghai Disneyland, Walt, Shendi Group, Boeing, Thomson Locations: Beijing, China, Rights SHANGHAI, WASHINGTON, United States, Washington, Shanghai, U.S, New York

Jens Eskelund, President of the European Union Chamber of Commerce in China, attends an interview with Reuters in Beijing, China August 21, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Aug 30 (Reuters) - The European Union Chamber of Commerce in China said on Wednesday that it would not use the term "uninvestable" to describe China, in response to a comment from the United States. U.S. Commerce Secretary Gina Raimondo said late Tuesday American firms had increasingly used the term to describe China, prompting Beijing to defend its business practices and approach to foreign investment. "‘Uninvestable’ is not a term we would use to describe China," Jens Eskelund, president of the EU chamber, said in an emailed response to questions from Reuters on Raimondo's remarks. Reporting by Laurie Chen; Writing by John Geddie; Editing by Muralikumar Anantharaman, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Jens Eskelund, Florence, Gina Raimondo, Raimondo, Eskelund, Laurie Chen, John Geddie, Muralikumar Anantharaman, Robert Birsel Organizations: European Union Chamber of Commerce, Reuters, REUTERS, Rights, U.S . Commerce, EU, Thomson Locations: China, Beijing, Rights BEIJING, United States, Europe

U.S. Commerce Secretary Gina Raimondo talks to Chinese Premier Li Qiang during a meeting at the Great Hall of the People in Beijing, China Tuesday, August 29, 2023. "China is actively advancing its high-level opening-up and making efforts to provide a world-class, market-oriented business environment governed by a sound legal framework," he said. Raimondo is in Shanghai on Wednesday for the last day of meetings before returning to the United States. Asked what her message was to U.S. business in China, Raimondo said: "The message is to continue to do what you're doing. Michael Hart, president of the American Chamber of Commerce in China, said businesses had been "very clear" in making their concerns known to the Chinese government.

Persons: Gina Raimondo, Li Qiang, Andy Wong, Biden, Raimondo, Liu Pengyu, Michael Hart, Hart, Chen Jining, Chen, Walt Disney, David Shepardson, Andrea Shalal, Chan, Jason Xue, Joe Cash, Martin Quin Polland, Tian, Sandra Maler, Robert Birsel Organizations: Commerce, of, People, REUTERS Acquire, Rights, . Commerce, Commerce Department, Global, American Chamber of Commerce, chipmaker Micron Technology, Micron, Shanghai, Shanghai Disneyland, Walt, Shendi Group, Boeing, Thomson Locations: Beijing, China, Rights SHANGHAI, WASHINGTON, United States, Washington, Shanghai, U.S, New York

☆ Asian shares hit two-week high on prospects for Fed pause
▼ + stars: | 2023-08-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

The index though is down about 6% so far in August and set for its worst monthly performance since February. The Eurostoxx 50 futures rose 0.39%, German DAX futures were up 0.29% and FTSE futures were up 0.31%. Overnight, Wall Street ended sharply higher, while Treasury yields slid to three-week lows after data showed U.S. job openings dropped to the lowest in nearly 2-1/2 years in July, signalling easing labour market pressures. With the Fed highlighting that the interest rate path will be heavily dependent on data, traders are tweaking their bets based on the latest indicators. Traders will be closely watching cocoa prices on Wednesday after the London cocoa futures on ICE rose to a 46-year high on Tuesday, buoyed by tightening supplies.

Persons: Issei Kato, DAX, Powell, Tina Teng, Carlos Casanova, Gina Raimondo, Brent, bitcoin, Ankur Banerjee, Edmund Klamann Organizations: REUTERS, Rights, Federal Reserve, Futures, Treasury, CMC Markets, Investors, PMI, . Commerce, Aussie, Traders, Thomson Locations: Tokyo, Japan, Asia, Pacific, Europe, Germany, Spain, China, Wednesday's, UBP, U.S

[1/2] British Foreign Secretary James Cleverly and Chinese Vice President Han Zheng attend a meeting at the Great Hall of the People in Beijing, China August 30, 2023. "We are clear-eyed about the areas where we have fundamental disagreements with China and we raise those issues when we meet," he told broadcasters. China Vice President Han Zheng told Cleverly at their meeting that he hoped the two countries could make new advances in their relations. Cleverly's visit to China comes as other countries in the West also try to improve their relations with the country. U.S. Commerce Secretary Gina Raimondo is on a four-day visit in China but warned that U.S. companies have complained to her that China has become "uninvestible".

Persons: James, Han Zheng, Florence Lo, Wang Yi, Liz Truss, Conservative Alicia Kearns, Gina Raimondo, Han, Sarah Young, Laurie Chen, Kate Holton, Elizabeth Piper, Conor Humphries Organizations: of, People, REUTERS, Rights, Conservative Party, China, British, Conservative, . Commerce, Thomson Locations: Beijing, China, Rights BEIJING, London, British, CHINA, Taiwan, Taipei, West

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. ET and is expected to show that private payrolls increased by 195,000 jobs in August after rising by 324,000 in July. Wall Street ended sharply higher on Tuesday after a drop in monthly job openings raised hopes the U.S. Federal Reserve could pause interest rate hikes, sending megacap growth stocks higher. ET, Dow e-minis were up 5 points, or 0.01%, S&P 500 e-minis were down 4 points, or 0.09%, and Nasdaq 100 e-minis were down 27.75 points, or 0.18%. Rite Aid (RAD.N) dropped 3.7% after S&P Global Ratings downgraded the drug retailer due to increased risk from restructuring.

Persons: Brendan McDermid, Susannah Streeter, Hargreaves Lansdown, Alibaba, Gina Raimondo, Bernstein, Shristi Achar, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Global, Dow, Nasdaq, Hargreaves, U.S . Federal, Traders, Treasury, PDD Holdings, Baidu, Beijing . U.S . Commerce, Dow e, HP Inc, Rite, Texas, Thomson Locations: New York City, U.S, Washington, Beijing . U.S, China, Bengaluru

Andy Wong | Afp | Getty ImagesBEIJING — U.S. Commerce Secretary Gina Raimondo has called on China to improve the predictability of the business environment for American companies in the country. "There's an appetite certainly for U.S. business to continue to do business in China," she said, adding however that "It's an unlevel playing field for U.S. business. Foreign companies in China have long complained about market access challenges including forced tech transfers and preferential treatment for local companies, especially state-owned enterprises. Gina Raimondo U.S. Commerce SecretaryThe updated law is of "great concern" to U.S. companies, Raimondo said. Foreign business organizations have noted improvements over the years in China's protection of intellectual property.

Persons: Gina Raimondo, China Nick Burns, Premier Li Qiang, Andy Wong, Raimondo, CNBC's Eunice Yoon, Biden, Stephen Olson Hinrich, Stephen Olson Organizations: Premier, of, People, Afp, Getty, U.S . Commerce, U.S, Trump, U.S . Department of Commerce's, of Industry, Security, Commerce, CNBC, Foundation, Biden, Boeing, Bloomberg Locations: China, Beijing, BEIJING, U.S, Shanghai, America, The U.S

☆ U.S. commerce secretary's China visit produced 'one important deliverable,' professor says
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. commerce secretary's China visit produced 'one important deliverable,' professor saysEswar Prasad, professor of trade policy at Cornell University, says there were no major breakthroughs, but the establishment of clear channels of "regular communication" at both the technical and senior policy levels was the "best that can be expected" from the U.S.-China relationship.

Persons: Eswar Prasad Organizations: Cornell University, U.S . Locations: China, U.S

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