U.S.-China Trade Relations (CRS Report for Congress)
| Release Date |
Revised Aug. 8, 2024 |
| Report Number |
IF11284 |
| Report Type |
In Focus |
| Authors |
Andres B. Schwarzenberg |
| Source Agency |
Congressional Research Service |
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Summary:
The People’s Republic of China (PRC or China) is the
second-largest global economy and has been a top U.S. and
global trading partner since joining the World Trade
Organization in 2001. China is a key export market for U.S.
aircraft, agriculture, semiconductor equipment/chips, gas
turbines, and medical devices, and a key source of some
U.S. consumer goods and intermediates (e.g., active
pharmaceutical ingredients and auto parts).
China’s system integrates state and corporate interests,
enabling the government to use trade tools—antidumping,
antitrust, technical standards, and procurement—economic
coercion, and PRC intellectual property (IP) theft activity to
advantage its firms and economic development goals. PRC
government policies in many cases have required firms to
transfer technology and capabilities in order to operate in
strategic sectors. U.S. firms have faced a lack of
reciprocity, trade barriers in some key areas, a growing
PRC state role in commercial activity, expanding industrial
policies, and rules governing economic security and data. In
February 2024, the American Chamber of Commerce said
57% of its firms lack confidence in PRC market opening.
Trade concerns raised by U.S. officials and executives since
the 1990s have broadened into a U.S. government focus on
strategic competition with China. The executive branch and
Congress have acted to address PRC practices that
challenge U.S. economic leadership, distort markets, and
hinder fair competition. Congress continues to deliberate on
approaches and the use of U.S. authorities. H.Res. 11
established in 2023 a Select Committee on the Strategic
Competition between the United States and the Chinese
Communist Party to develop options on a bipartisan basis.
