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On the trade front, SCMP has reported that trade officials from the US and China could hold their first meeting of the new US administration soon. This concurs with comments from US Trade Representative Katherine Tai that she expects to have contact with senior Chinese officials 'in the near term'. Tai said yesterday that the US administration will work from the 'Phase 1' agreement signed under the Trump administration in terms of trade relations with China, adding that she 'respects continuity' with regards to the deal. There was a Bloomberg sources piece on Thursday that said the Biden administration is likely to continue policies from the Trump era such as bans on firms linked to China's military including telecommunications firms.