U.S.-China Trade Relations (CRS Report for Congress)
| Release Date |
Revised March 28, 2024 |
| Report Number |
IF11284 |
| Report Type |
In Focus |
| Authors |
Andres B. Schwarzenberg |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The People’s Republic of China (PRC or China) is the
second-largest global economy and an important global
market for the United States. At the same time, U.S. firms
face significant trade barriers, unfair practices, and a lack of
reciprocity in key areas. China’s state-driven economic,
trade, investment, and technology practices and the
challenges they pose to U.S. economic and technology
leadership are of concern to many in Congress. China
continues to require the transfer of critical U.S. capabilities
to China to operate in strategic areas. Many in Congress
have expressed concern that China’s practices distort
markets and undermine fair competition in China and
globally as PRC firms expand in areas that China restricts
domestically. China’s system blurs state and corporate
interests, enabling the government to deploy trade tools
(e.g., antidumping, antitrust, standards, and procurement),
economic coercion, and espionage to advantage its firms
and advance China’s industrial policies. The expanding role
of the PRC state in commercial activity—including an
intensification of industrial policies and enactment of
interrelated national economic security policies and data
restrictions since 2020—appear to have increased the risks
of U.S. commercial ties with China even as some U.S. firms
increase their exposure in China.
