In 2025, the trade relationship between China and the United States was relatively tense, in a state of trade dispute and confrontation. The specific situation is as follows:

- Escalation of trade disputes: In 2025, the United States imposed tariffs on products imported from China, citing the fentanyl issue as the reason, and China retaliated by initiating dispute resolution procedures at the World Trade Organization. In early April, the U.S. government officially announced the imposition of 'reciprocal tariffs' on Chinese goods, raising tariffs on China to 145%; China subsequently followed up with countermeasures, increasing tariffs on the U.S. to 125%, with the conflict affecting key areas such as electric vehicles, chips, agricultural products, and energy.

- Restrictions in the technology sector: The United States added over 50 Chinese high-tech companies to the 'Entity List,' involving areas such as AI large model development, servers, and supercomputer industries. The U.S. also expanded the scope of chip regulations, limiting Chinese companies' overseas production of advanced chips, from previously 7nm and below to now '16nm or 14nm and below.'

- Changes in trade scale: Despite the trade friction, in the first quarter of 2025, the bilateral trade import and export scale between China and the U.S. was 11.1 trillion yuan, an increase of 4%. However, the World Trade Organization report indicates that U.S. tariff policies have severely deteriorated the global trade outlook, with global goods trade volume expected to decline by 0.2% in 2025 under the current tariff situation. If tariffs remain above 100%, the proportion of competitively priced Chinese products in the U.S. market will drop to less than 21%, potentially leading to a significant further decrease in trade volume.

- Latest negotiation dynamics: On April 14, reports indicated that both China and the U.S. had engaged in preliminary contacts through intermediaries regarding the tariff issue, but significant differences in positions remain.