US Pres. Biden: Not looking for new cold war with China

US President Joe Biden will tell G7 leaders that the US is not looking for a new cold war with China and reiterate the US, Europe and democracies must challenge abusive practices, Reuters reported, citing a senior administration official.

Biden will tell the Munich Security conference that major democracies must work together to deal with competitors like and China and Russia, the official further added.

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Futures were up 0.3% on the day at 3,921.