The US–China relationship is arguably the most influential bilateral dynamic in global trade today. Over the last few years, businesses have been navigating one of the rockiest patches in modern economic history—trade wars, tit-for-tat tariffs, tech bans, and investment restrictions. But 2024 brought a noticeable shift. Signals from both Washington and Beijing indicate a desire to stabilise ties, at least economically. That easing of tension is not just diplomatic—it’s opening up real business opportunities.

For global export-import players, this détente is more than good news. It’s the unlocking of multi-billion-dollar potential across industries that have been on pause, sidetracked, or operating in grey zones. Now is the time to pay close attention, reassess the landscape, and position yourself to benefit.

The Diplomatic Reset: What’s Really Changing?

After years of strained interactions, the Biden administration and Xi Jinping’s government have made strides toward improving communication. The November 2023 San Francisco summit was a critical turning point. There, both sides agreed to resume military dialogues, deepen cooperation on climate, and crucially—restore key trade channels.

By early 2024, the following developments took shape:

• The Bilateral Commercial Exchange Council resumed, fostering more regular economic dialogue.
  
• Tariff rollbacks were proposed on a selective basis, particularly on consumer electronics and agricultural goods.
  
• The US Commerce Department granted temporary general licenses to allow limited technology exports to Chinese firms, pending tighter regulatory reviews.
  
• Both countries expressed mutual support for supply chain resilience collaboration, especially in areas like pharmaceuticals and clean energy.
  

These aren’t just symbolic. They signal operational shifts that open up new lanes for business.

Export Revival: Manufacturing and Consumer Electronics

During the height of the trade war (2018–2020), tariffs and sanctions hit manufacturing hard. US importers turned to Southeast Asia to diversify, and Chinese exporters shifted to non-US markets. But full decoupling never really materialised, because for many industries, the China-US trade axis remains too large to ignore.

According to the U.S. Census Bureau, bilateral goods trade still hit $575 billion in 2023, down from the 2018 peak of $659 billion, but proving resilience. With tariffs loosening in 2024, many companies are revisiting paused sourcing plans or expanding existing deals.

Business opportunities:

• OEM and ODM manufacturing deals between US brands and Chinese factories are making a comeback, particularly in the consumer tech and smart appliance sectors.
  
• Importers can renegotiate logistics and customs arrangements now that tariff risks are lower, reducing total landed cost.
  
• Component manufacturers in Taiwan and China’s Greater Bay Area are seeing renewed interest from US electronics and automotive firms.
  

For businesses involved in freight forwarding, customs brokerage, or sourcing consultancy, this is a prime window to facilitate re-entries and optimise supply chains.

Agriculture and Agri-Tech: Back to the Table

Agricultural trade was one of the first victims of US–China hostilities. Soybeans, pork, and dairy exports from the US plummeted as Beijing pivoted to Brazil, Argentina, and Europe. But China still relies on massive imports to feed its population—especially protein and grains.

In 2024, we’re seeing a rebound. USDA data shows that US soybean exports to China increased 9% in Q1 2024 year-over-year, driven by tariff exemptions and improved phytosanitary negotiations.

Opportunities opening up:

• US agricultural exporters can expand soybean, corn, and pork volumes to China, especially under private-sector contracts.
  
• Export-import intermediaries can broker new deals for agri-tech machinery, irrigation systems, and smart greenhouse technology, areas that China is investing in heavily.
  
• Cold chain logistics providers stand to benefit from renewed frozen meat and perishable export flows.
  

For Latin American suppliers and traders, there’s room to serve as secondary or overflow suppliers to China as it rebalances between US and non-US sources.

Tech and Semiconductor Trade: Cautious But Lucrative

Tech remains the most sensitive area in US–China ties. Washington’s restrictions on advanced semiconductor exports to China are still largely in place. However, the easing of tensions is facilitating non-sensitive tech trade—mid-range chips, hardware components, and software services for civilian use.

The semiconductor supply chain is complex. Even with some bans, business continues in areas like testing equipment, legacy node manufacturing, and chip design services. In 2024, Qualcomm resumed shipments of certain 4G chips to Chinese handset makers under export licenses, and Applied Materials saw renewed equipment orders.

Emerging opportunities:

• Exporters and logistics companies that specialise in semiconductor manufacturing equipment (SME), printed circuit boards, and connectors can expect higher volume.
  
• Investors and import-export firms may find new openings in chip design collaboration, particularly through joint R&D ventures in Singapore or Hong Kong.
  
• Importers of industrial robotics and AI-integrated systems will benefit from reduced scrutiny when operating in the non-military domain.
  

Expect this space to evolve cautiously, but for many companies not on any entity list, there’s a clear path to renewed or expanded business.

Green Tech and Climate Collaboration

One of the most promising zones of cooperation is climate technology. Both China and the US have pledged major emissions reductions, and both have a vested interest in developing affordable clean energy solutions.

Recent agreements have paved the way for joint investment and knowledge-sharing in EVs, solar power, and battery technology. For export-import players, this is an arena where both governments are actively encouraging cooperation.

Where the growth is:

• Cross-border trade in lithium batteries, solar panels, and wind turbine components is heating up, particularly in third-party markets like Southeast Asia.
  
• There’s growing demand for recycling and waste management technologies, where US expertise complements China’s scale.
  
• Freight and logistics firms can explore specialised services for handling sensitive or hazardous green tech shipments under new compliance standards.
  

China’s 2024 Green Industry Report estimates that green infrastructure investment will grow by over $600 billion by 2027, with half of that projected to involve foreign partnerships.

Logistics and Cross-Border Trade Platforms

With trade volume picking up again, so too is demand for smarter and more efficient cross-border logistics solutions. The e-commerce boom, coupled with trade normalisation, is breathing new life into freight forwarding, port services, bonded warehousing, and last-mile delivery.

Tech-enabled logistics firms are particularly well-positioned. Alibaba’s Cainiao and JD Logistics are expanding globally, while US-based platforms like Flexport are recalibrating their China operations.

Opportunities to capture:

• Freight operators with US–China lanes will benefit from increased volumes and more predictable schedules post-tariff de-escalation.
  
• SMEs can now tap into trade financing, customs automation, and platform-based sourcing, helping them scale exports or imports without the need for large-scale operations.
  
• Digital trade platforms (like Alibaba, DHGate, and even Amazon’s Global Selling program) are seeing rising enrolment from manufacturers and wholesalers eager to re-enter US markets.
  

Services, Tourism, and Professional Exchanges

Business isn’t just about goods—services trade is also resuming. Visa agreements are being relaxed, business travel is picking up, and universities are reporting increased Chinese student applications to the US.

Meanwhile, financial services are gradually reopening. BlackRock and Goldman Sachs have resumed wealth management activity in China, and Beijing is signaling openness to foreign capital under new risk frameworks.

Where this matters:

• Export-import advisors, legal firms, and compliance consultants will see demand from firms navigating resumed trade rules.
  
• Education consultants and hospitality companies will benefit from returning Chinese student and tourist flows to the US.
  
• Cross-border M&A advisory, especially for clean tech and healthcare, is becoming more viable again.
  

Final Thoughts: A Cautious Green Light

Let’s be clear—this is not a return to the pre-2018 “golden age” of US–China trade. Strategic competition remains, and new barriers could arise. But what we’re witnessing now is a window of relative stability. And for global businesses, windows like this don’t come often—and don’t stay open forever.

Easing tensions mean opportunities to expand trade, forge new partnerships, and move capital, technology, and services across borders more smoothly. For export-import players who stayed agile during the tough years, this is your moment to act.

Keep monitoring policy, diversify your risk, but lean into the opportunity. Because in global trade, the calm after the storm is often the best time to set sail.

Join Hi-Fella Today!

As US–China tensions begin to ease, fresh opportunities are opening up for agile export-import businesses ready to seize them — and Hi-Fella is your ideal launchpad. With access to a global database of verified buyers and suppliers, real-time trade insights, and tools that simplify cross-border connections, Hi-Fella helps you move fast and smart in a shifting geopolitical climate. 

Whether you’re re-entering familiar markets or exploring new ones, Hi-Fella ensures you’re strategically positioned to capitalise on renewed trade flows and build lasting, profitable relationships worldwide.