The Minister also urged to strengthen trade and investment, as trade between the world’s two powers fell by 9.6 percent in the first seven months of the year.

Discussions between both parties are also focused on cooperation in semiconductors, chip production and exports.

According to the CCTV state television network, both parties held talks as part of Raimondo’s work schedule in China, which will last until August 30th and includes a visit to Shanghai.

The United States currently maintains restrictions on 27 Chinese companies, and the White House issued an order further limiting investments in the semiconductor and microelectronics, quantum information technology, and artificial intelligence sectors in China.

Raimondo’s visit was preceded by exchanges with three other senior US officials, including Treasury Secretary Janet Yellen.

On those occasions, China advocated for rational and practical cooperation to return bilateral ties to normality as soon as possible, however, the talks ended without concrete agreements. The tensions between both sides transcend the economic and commercial fields and have reached the political area.

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