If the PAFACA Act passes the Senate Commerce Committee, the fate of TikTok will be in the hands of Senate majority leader Chuck Schumer.
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Trump’s reelection would trigger another round of escalatory economic warfare with China, characterized by tariff hikes and expansive decoupling.
A recent bill in Congress proposing to ban federal contracting with certain Chinese pharmaceutical companies triggered a rapid market selloff.
Chinese companies survived and thrived in the US in 2023 despite headwinds; 2024 may be a window of respite and a last chance to grow deeper roots.
Several positive developments in US-China relations have occurred since the leaders’ summit in San Francisco in November 2023.
China has been more actively scrutinizing US-related semiconductor deals in retaliation to the US expansion of China-focused export controls.
The US has escalated its export control regime again, dealing a blow to China’s AI development.
The US-China rivalry has evolved beyond the trade war into a new phase of intense geopolitical competition.
The release of the device will intensify US political pressure and will likely lead to attempts to tighten the export control regime against China.