Don’t call it a ‘summit’: Biden-Xi meeting brings low expectations

That’s music to the ears of a U.S. business community for whom the status quo on U.S.-China trade relations is increasingly unacceptable. “We want stability [and] we are concerned that the tariffs may become perpetual and cause considerable long-term damage to both economies, while distorting the overall bilateral relationship,” said Craig Allen, president of the U.S.-China Business Council, a D.C.-based lobby group, in a written statement to POLITICO.