During her four-day visit to Beijing, US Commerce Secretary Gina Raimondo raised complaints from US companies about China being “uninvestible” and “risky to do business” with its fines, raids and other actions.
The policymaker also criticized the Chinese government’s actions against chipmaker Micron Technology while stating, “There has been limited due process, and that’s why I brought it up.”
Reuters also said that US Commerce Secretary Raimondo insists the United States does not want to decouple from China.
The US Diplomat also mentioned that she did not receive any commitments on Boeing, Intel or Micron while adding that, “I was very firm in our expectations. I think I was heard”.
AUD/USD pauses the rally
The news could be the reason for the AUD/USD bulls to take a breather, other than a cautious mood ahead of the key data/events. That said, the Aussie pair seesaws around 0.6480 amid early Wednesday morning in Asia after rising the most in a week the previous day.
Also read: AUD/USD bulls cheer softer US data to approach 0.6500, Australia inflation eyed
Source: https://www.fxstreet.com/news/us-commerce-secretary-raimondo-companies-complain-china-has-become-risky-to-do-business-202308292229