Tensions between the US and China are rising at an accelerated pace and have had a substantial impact on US-based companies operating in China. The US’ hardened stance on China will persist due to bipartisan consensus. Negative US views on China have increased since the US-China trade war began and accelerated following the COVID-19 outbreak.
Biden is currently leading the US Presidential race, but his victory is not assured. He has held a stable, consistent lead in the polls, reflecting voter concern over the COVID-19 crisis and a negative view on the Trump administration’s policy response. Biden’s election would lead to changes in some – but not all – of the US’ policy stances on China, which is likely to remain consistent in many areas, even if Biden wins.
Although Biden is currently favored to win the US election, companies should not become complacent about tariffs, as they are most likely to rise further. If Biden wins, he is unlikely to lower the US’ current tariffs on China. However, if Trump wins, he is likely to raise tariffs further.
Our experts recently held a webinar focused on how relations between Washington and Beijing are likely to evolve following the US Presidential election and how China’s National Security Law for Hong Kong will impact the city’s future as a business hub.
Watch the full webinar presentation below:
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