As deglobalization gains momentum，the trade between China and the Western world is experiencing a notable decline .In the first quarter of 2023, China's exports to the United States amounted to only $115.237 billion, representing a significant decline of 17%. At the same time, China's imports from the United States also experienced a downturn, reaching only $46.35 billion, a decrease of 1.7%. CNY has depreciated from 6.69 to 7.07 towards USD only for 3months.

Is there any chance that the relations between china and United states will be easing?

President Biden has expressed optimism about the potential easing of tensions and improving relations between China and the United States. Here are some key points to consider:

United approach: President Biden stated that the G7 nations have agreed on a united approach towards China, which includes diversifying supply chains and reducing dependence on one country . This collaborative effort signifies a shared perspective on addressing issues related to China.

De-risk, not decouple: The G7's approach emphasizes the need to de-risk supply chains rather than completely decoupling from China. This indicates a desire for a more balanced and stable economic relationship .

Optimistic outlook: President Biden expressed his belief that the heightened tensions between the United States and China would "thaw very shortly." He acknowledged the disappointment caused by a previous incident but remained hopeful for improved communication and relations between the two countries

These statements from President Biden indicate a willingness to engage with China and seek a more constructive and cooperative relationship. However, it is important to note that the actual outcome of China-US relations will depend on various factors, including future actions, policies, and geopolitical dynamics.

From China side, the Minister of Commerce of China, Wang Wentao, plans to travel to the United States to attend the Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting and hold meetings with U.S. Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai.

Although it seems the situation is become better, but as Chinese old saying goes” There cannot be two tigers on one mountain”, so even the relation between china and US become less tense, it is just for temporary.