China desires to open up up much more of its marketplaces to U.S. corporations, previous Commerce Secretary Gary Locke told CNBC on Wednesday.
“There desires to be a much more stage actively playing area and there desires to be much more entry of American corporations into China, the same way Chinese corporations are equipped to sell and work in this article in The us,” Locke, a previous U.S. ambassador to China, mentioned on “Squawk Box.”
The remark by Locke, who was Commerce secretary all through the Obama administration, came a day right before the start of a two-day summit between President Donald Trumpand Chinese President Xi Jinping in Florida.
The president, who formerly declared China the “grand winner” of currency manipulation, mentioned Tuesday he required U.S. corporations to halt financial commitment in China and rather make jobs at residence.
Some in U.S. industry have identified as out China, the world’s second-largest financial system, for unfair government subsidies on corporations and limiting financial commitment.
In a tweet Thursday, Trump mentioned he expected a “challenging” assembly with Xi.