Secretary of State Antony Blinken raised concerns over unfair trade practices in the world’s No. 2 economy as he began talks in China, with the threat of US sanctions on Beijing for its support of Russia looming over his visit.

The surging dollar has hurt stocks outside the US but one group at least stands to gain: companies that export to the world’s largest economy.

Now that President Joe Biden has signed off on a law that could expel TikTok from the US market, Beijing must decide how best to retaliate over an attack on the world’s most-valuable start-up.