"House Committee Proposes Bold Measures to Reset China-U.S. Economic Relations"

A bipartisan committee in the U.S. House of Representatives has released a report calling for a reset on the economic relationship between the United States and China. The report includes over 130 policy recommendations, such as imposing higher tariffs on Chinese goods, restricting U.S. investments in China, and potentially banning companies like TikTok. It also suggests strategies to protect U.S. companies and banks in the event of a partial decoupling or conflict with China. The report aims to unwind advantages given to China since its accession to the World Trade Organization and highlights the need for an economic contingency plan in case of war. The committee's work has drawn criticism from Beijing, but lawmakers emphasize the bipartisan support for tighter controls on Chinese economic practices.