From the Document: "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 of 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 and other policies. The state's expanding role in commercial activity--including an intensification of industrial policies and enactment of a set 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 are increasing their exposure."
CRS In Focus, IF11284
Congressional Research Service: https://crsreports.congress.gov/