Research & Analysis

In a speech Thursday, National Security Advisor Jake Sullivan outlined the Biden administration’s new industrial strategy for the United States. The strategy aims to leverage massive public investment to rebuild US manufacturing, reduce inequality, and reduce supply chain dependence on China.

On March 31, China’s Cybersecurity Review Office announced a cybersecurity review (CSR) investigation into US chipmaker Micron, citing supply chain security and cybersecurity risks. This investigation has spurred questions and concerns about the CSR process and whether it will create new compliance difficulties for US companies moving forward.

The Uyghur Forced Labor Prevention Act (UFLPA) has been a game changer for forced labor import bans. Its broad scope, covering anything made “in whole or in part” with input from Xinjiang or entities blacklisted on the UFLPA entity list, has forced companies to rethink supply chain traceability in China and the region.

Since reform and opening began nearly 50 years ago, China’s private sector has played an increasingly important role in the economy, accounting for 60 percent of GDP, 70 percent of innovative capacity, 80 percent of employment, and 90 percent of new jobs.

In a speech on Thursday at the Johns Hopkins University’s School of Advanced International Studies, Treasury Secretary Janet Yellen outlined a vision for the future of US-China economic relations, emphasizing the importance of collaboration while safeguarding US national security interests.

In a Brookings Institution discussion on Monday, Treasury Undersecretary for International Affairs Jay Shambaugh spoke about the importance of maintaining an economic relationship with China, a notable message considering the administration’s focus on competition and national security as of late.

This report explores the latest comprehensive data available for both US goods (2022) and services (2021) exports to China, as well as the American jobs (2021) they support.

Taiwan President Tsai Ing-wen landed in New York Thursday, where she will be stopping briefly on her way to visit Central American allies. She plans to stop in Los Angeles on her way back to Taiwan next week. While little is known about Tsai’s itinerary while in the United States, the stopovers have drawn sharp criticism from Beijing, particularly, the prospect that she will meet with Speaker of the House Kevin McCarthy (R-CA) during the second leg of her trip.