Rebounding Profits, Rising Risk: The State of American Business in China

U.S. companies in China are navigating a widening gap between opportunity and risk. Even as profitability rebounds and China remains critical to companies' global competitiveness, escalating tariffs, tightening export controls, and a fragile trade truce are forcing American businesses to rethink how —and whether— they operate there.  In this conversation on August 3, National Committee President Steve Orlins interviews Sean Stein, president of the US-China Business Council (USCBC), about USCBC's recently released 2026 Member Survey of 175 American companies doing business in China. Mr. Stein discusses why companies continue to view China as essential despite mounting headwinds, including bilateral tariffs, Chinese export controls on rare earths, and rising competition from increasingly capable Chinese firms. He also addresses the outlook for the U.S.-China trade truce, which is set to expire in November, and what American businesses say is needed from both governments to stabilize the relationship.  About the speaker