The United States Senate Foreign Relations Committee will perform a hearing on the ‘Strategic Competition Law’ focused on China on April 14, Reuters reported on Thursday, citing a source familiar with the matter.
“The draft US Senate bill says that strategic competition with China will require sustained political will for decades to come.”
“The US Senate bill says the United States should encourage allies to do more to balance and control China’s aggressive and assertive behavior.”
“The draft legislation says that the head of each US federal department and agency should appoint a senior official to coordinate policies regarding strategic competition with China.”
“The US Senate bill says that in the coming decades the United States must prevent China from establishing regional hegemony in the Indo-Pacific.”
This headline does not appear to have a significant impact on market sentiment. At the time of writing, S&P 500 futures they were up 0.35% on the day to 4,084.