Trade Scale and Growth: In the first quarter of 2025, Sino-American bilateral trade continued to grow despite interference from the U.S. imposition of tariffs, with import and export volume reaching 11.1 trillion yuan, an increase of 4%. However, since the outbreak of trade frictions in 2018, the pattern of bilateral trade has changed. Although Sino-American trade reached a historic high in 2022, its growth rate lagged behind the trade growth between the two countries and other regions by 30%, highlighting the trend of decoupling.

- Impact of Tariff Policy: The 301 tariffs imposed by the U.S. on Chinese goods have distorted the statistical differences in bilateral trade, pushing up U.S. inflation through price transmission and weakening China's cost advantage in exports. This has led to increased costs for U.S. manufacturing and diminished competitiveness, while Chinese companies exporting to the U.S. face pressure from rising supply chain concentration.

- Technology and Investment Areas: Decoupling has transcended the realm of trade and spread to technology and investment sectors. The U.S. has constructed a supply chain aimed at excluding China through policies such as 'small yards and high walls' and 'friend-shoring.' It has restricted cooperation in technologies like semiconductors and connected vehicles. China's direct investment in the U.S. has significantly decreased due to stricter reviews, and U.S. technology companies operating in China are also facing pressure from supply chain restructuring.