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US-China tensions

Biden crackdown on Beijing dims hopes for Chinese companies in US

Survey shows more businesses had expected better bilateral relations after Trump

U.S. President Joe Biden has cited national security risks and reinvigorating the American economy as key reasons for restricting trade with some Chinese companies. (Nikkei montage/Reuters/AP)

PALO ALTO, U.S. -- President Joe Biden's recent crackdown on Chinese companies is testing early optimism that U.S.-Sino relations and business prospects would improve under his watch.

After Biden defeated incumbent Donald Trump at the polls last November, 39% of Chinese companies in the U.S. expected better relations between Washington and Beijing, according to an annual survey released on Thursday by the New York-based China General Chamber of Commerce, up from 33% in 2020. By comparison, 25% of the surveyed companies anticipated relations to further deteriorate, down from 30% last year.

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