- If you look at certain areas,
solar panels, solar technology generally, batteries,
electric vehicle technology, semiconductors,
other parts of the supply chain,
we have in America over the past several decades,
just watched our domestic supply chain vanish
before our eyes.
(gentle music)
When president elect Biden called me
to ask me to do the job,
we talked about being domestically focused
and rebuilding from within
which by the way, we think is the best way
to be competitive globally.
So it's about investing in talent,
investing in research and development,
making sure that we can compete globally
by having stronger technology internally in America.
- In the domestic agenda are there areas
where you think, this would be a great area
that Chinese investment might work, might help?
- We are at this point experiencing
kind of good collaboration
with the Chinese as it relates to climate.
So I think that that is an area where our goals are aligned.
And we know that in order to hit
President Biden's climate change targets,
we're heavily dependent on technology,
the technology necessary to hit his climate goals
doesn't exist today.
I can't emphasize this enough on a case-by-case basis.
It depends on who is the investor,
is there state involvement, what are their goals?
And we are serious about protecting our national security.
- Let me ask you kind of how you come to your thinking
about international trade and China in particular,
as I understand that your father used to work at Bulova,
was laid off with Chinese competition.
You were the governor and you were the treasurer
at a time when the costume jewelry industry got clobbered
by Chinese competition.
So how much does that kind of factor
into the way you think about things?
- I think, significantly.
That was my personal story, it was really hard, right?
And Rhode Island, like so many places in the Midwest,
in the eighties, seventies,
was a vibrant manufacturing economy
and there was a job there for everybody.
And then it all went away in search of cheap labor to China,
cheap labor drove out manufacturing.
So the president is committed
to bringing that back to America, as am I,
it's a big part of my story.
In fact, when I was thinking about taking the job,
it was a hard decision and I called my brother
and I said, "The president wants me to do this."
And he said, "Gina, dad would be so proud
if you could play a role
in getting manufacturing going again in America."
So for me, it's a huge motivator.
- Would you imagine taking delegations of CEOs
or senior business officials abroad
to look at export or even investment opportunities?
Is that something you think you would do?
- Yes, absolutely.
A big part of my job is export promotion and I'm looking,
for example, we're launching
a clean tech export promotion initiative.
We really want to do a better job
helping American businesses export their clean technology.
Any place that I see market interference
by state actors or other governments
or unfairness or an unlevel playing field
for American companies trying to access global markets,
that is definitely a huge part of my job
to kind of stick up for American industry.
- Would China be one of the places you imagine taking,
you expect to take CEOs?
- I think so, yes.
Once travel opens,
Asia and China are very important markets.
Obviously a part of my day every day
is talking to American businesses.
The Chinese market is huge and growing.
And they don't play by the rules,
they're not living up
to their phase one purchase commitments,
they rip off our intellectual property,
there's all kinds of barriers that they're putting in place
which prevent American businesses
from accessing that market.
So I plan to be a forceful advocate
on behalf of American business,
and yes, to ramp up our direct engagement
with my counterparts in China and bring businesses there.
- So it doesn't sound like you agree
with the idea of the two economies decoupling.
- Absolutely not. I don't really think that's an option.
I mean, the size and scale of their economy
is such that we need access to that market
and they need and want to access to this market.
So we need robust commercial engagement with China
that does not in any way ever compromise
our national security.
- This administration has talked about cooperation
in some areas like climate,
do you think then in the trade and economic area,
we're in the cooperation basket
or the, let's just say, confrontation basket?
- A little of both.
Cooperation is the goal
but we can't be taken advantage of, right?
So if they're gonna block our companies,
if they're going to flood our market
with cheap steel and aluminum
which hurts our steel and aluminum industry,
if they're going to not respect
protection of intellectual property,
well, then we'll be confrontational when we need to be.
But also we need to do business there,
and that's something
that I think it's just an economic fact,
it's complex, and it is fraught.
Communication helps. I think a lot of communication helps.
I actually think robust commercial engagement
will help to mitigate any potential tensions.
If we could continue our commercial engagement,
it will help prevent unintended conflict
which can come from lack of communication.