The road ahead for US-China trade relations

Under the Trump administration, the trade relations between the US and China have hit all-time lows, with both countries announcing major tariffs on each country’s imports. However, now, under President Joe Biden, these extremely strict trade policies against China that were once adopted by former President Donald Trump may soften. The new President will likely placate the stance against China and try to mend trade relations. In fact, President Biden has already indicated that his team will be looking to focus on minimizing human rights abuses rather than focusing on new tariffs. This could prove to be a highly beneficial policy for China, as the country would be able to improve its exports to the US. Here is what the future may hold for US-China trade relations.

What is Next for US-China Trade Relations

President Biden has already begun to reassess the trading strategy adopted by his predecessor. There is a new trade policy under development, and this policy could focus on creating an international trade environment that is significantly less tense. At the same time, China is also keen on resetting the trade terms between the two nations since the US continues to be an important market for the country's exports. Therefore, it is highly likely that the two countries will make efforts to mend their trade relations as soon as possible.

This “warming up” could prove to be beneficial for traders on both sides. While US exporters will be able to sell their products in the Chinese market, Chinese exporters will also receive unabated access to the US market once again. Moreover, the two countries could also benefit from launching new partnerships in areas of research and development. Such initiatives will likely help both nations.

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