Tensions between the U.S. and China have been excessive for the previous few years. U.S. Commerce Secretary Gina Raimondo is wrapping up her go to to China in a bid to enhance these relations. Yahoo Finance Senior Columnist Rick Newman explains why there could also be indicators that the connection between the 2 international locations could also be getting a bit of bit higher.
Video Transcript
RACHELLE AKUFFO: Effectively, the US Secretary of Commerce Gina Raimondo is the most recent American emissary attempting to stabilize US-China relations and has concluded her four-day journey to Beijing and Shanghai on an upbeat word.
Let’s herald Yahoo Finance’s Rick Newman to provide us some perception as a result of Rick, we knew there was a bit of little bit of rockiness in a number of the conversations that they have been having on the market.
RICK NEWMAN: Proper. So the story of the Biden administration with regard to China thus far has been a sort of decoupling, the place Biden is attempting to cut back the quantity of exports we get from China and likewise scale back imports US to China of sure varieties of superior expertise.
However there’s been sort of a thaw, not too long ago. Janet Yellen went to China a few months in the past. Now the Commerce Secretary Gina Raimondo is over there. She’ll be again quickly. Mainly, discussions are going down.
And there have really been some easings by way of some exemptions of the semiconductor guidelines that Biden put in place final yr. So some firms are making use of for exceptions to that rule to allow them to promote superior semiconductors to China, they usually’re getting these exemptions.
So the US-China relationship is type of bettering a bit of bit, I assume. And what all people’s waiting for is there’s going to be a summit assembly in November, the place President Biden and President Xi Jinping of China are each going to be there. And there might be a gathering between these two leaders if issues go properly for the following couple of months. So possibly issues are OK between the US and China in the interim.
