"US-China Tensions: Impact on American Companies and Biden Administration's Concerns"
Originally Published 2 years ago — by NPR
Rising tensions between China and the U.S. are creating an uncertain environment for American companies. Commerce Secretary Gina Raimondo is set to visit China, highlighting the importance of maintaining dialogue between the two countries. The trade tensions, coupled with China's slowing economy, have led to a "chilling" effect on U.S. businesses. Companies are reevaluating their strategies and considering relocating manufacturing outside of China. However, many companies still plan to stay in China due to existing investments and the time it takes to adjust supply chains. Despite the tough rhetoric, both countries still need each other, as China remains a key market for American goods.