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Biden could struggle to thaw Sino-U.S. frost: investors

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Biden could struggle to thaw Sino-U.S. frost: investors by Kenyans247(1): Mon 07, December, 2020 09:47am
LONDON (Reuters) - A Joe Biden presidency may not mean an instant thaw in U.S.-China relations, but a more predictable policy approach than under the Trump administration should be better for investment, investors told a Reuters summit. the same issues that stoked friction between the two world powers under Trump’s presidency will fester, such as protecting intellectual property and U.S. manufacturing jobs, said Shannon Saccocia, chief investment officer of Boston Private.

“Whether it’s a Trump administration part two or a Biden administration, those concerns remain the same, and we have a very split electorate here in the United States and those voters sit at the nexus, at that tipping point,” Saccocia said at the annual Reuters Global Investment Outlook Summit, 2021.“In order to continue to engage those not only in 2020, as we’ve seen, but in the mid-terms in 2022 and into 2024, you can’t lose that block as they’ve increasingly become the deciding factor in U.S. elections.”

Under the Phase 1 agreement signed this year, China agreed to increase purchases of U.S. products and services by at least $200 billion over 2020 and 2021.

The deal also left in place 25% tariffs on a $250-billion array of Chinese industrial goods and components used by U.S. manufacturers, and China’s retaliatory levies on more than $100 billion in U.S. goods.
https://www.reuters.com/article/us-investment-summit-trade/biden-could-struggle-to-thaw-sino-u-s-frost-investors-idUSKBN28E2QH

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