As you know not only from our news, Chinese technology companies, including the smartphone giant Huawei, were hit very hard by the sanctions of former US President Donald Trump. Recently, there have been reports on the air that the situation will improve a bit for them under the new president Joe Biden, but these speculations have now been sharply cut by Biden. In cooperation with allies, he announced that he would add "new targeted sanctions" to the export of some important technologies to China. He did so even before he had his first phone call with his Chinese counterpart, Xi Jinping.
In addition to new trade restrictions on sensitive American technologies, the White House will not agree to lift trade tariffs imposed by the previous administration until it has thoroughly discussed the issue with allies.
Biden is also ready to work with Republicans to increase public investment in technology sectors that are key to the US's economic advantage, including semiconductors, biotechnology and artificial intelligence, according to US media.
The latest development will be a disappointment not only for the head of Huawei, Zhen Zhengfei, who expected that with the new president, relations between the US and China, and by extension, American and Chinese companies, would improve. It seems that Biden's approach to China will differ from Trump's only in that the White House will act against it in a coordinated manner, not alone.
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