1、US-CHINA BUSINESS COUNCIL1Member SurveyUS-CHINA BUSINESS COUNCIL2025US-CHINA BUSINESS COUNCIL1ABOUT THE US-CHINA BUSINESS COUNCILFounded in 1973,the US-China Business Council(USCBC)is a private,nonpartisan,nonprofit association of more than 270 American companies that do business with China.Our memb

2、ership includes some of the largest and most iconic American brands,in addition to professional services firms and small and medium-sized enterprises.We are headquartered in Washington,DC,and maintain offices in Beijing and Shanghai.AUTHORKyle SullivanDESIGNVivin QiangEDITORErin SlawsonWITH CONTRIBU

3、TIONS FROMBanny WangLance YauUS-CHINA BUSINESS COUNCIL2Table of ContentsExecutive SummaryUS-China Commercial and Trade RelationsCompany Performance and Planning3529Tariffs and supply chain disruptions accelerate mitigation strategies 6Profitability holds for now,but outlooks shift downward29Trade an

4、d investment restrictions spur investment decline9Companies balance cost cutting with capitalizing on market opportunities32A closer look at export controls and sanctions12Investing in China enhances global competitiveness34Introduction4Overcapacity spreads to more sectors,fueling deflation 17Indust

5、rial policies disadvantage US companies 19Localization policies hinder market access for US firms22Data concerns ease only slightly24Companies see little progress on IP protection26Conclusion36Methodology 37Respondent Profile38Domestic Policy Challenges15US-CHINA BUSINESS COUNCIL3Executive SummaryKe

6、y findings US-China relations and tariffs are the top concerns of US companies doing business in China.US-China relations continue to top the list of business challenges,and tariffs jumped from eighth to second place amid renewed trade frictions.Companies first priority for the bilateral negotiation