Abstract
The recent improvement in political relations between the United States and the People's Republic of China has been accompanied by a considerable growth in trade between the two countries. Since the lifting of the U.S. embargo in 1971, trade has grown so rapidly that the United States has become the P.R.C.'s second largest trading partner.1 While the longterm future of U.S.-Chinese trade is necessarily uncertain, the rapid increase in trade that has already occurred has created new opportunities for the American businessman and new challenges for the American attorney. This paper explores those opportunities and challenges by discussing the U.S. regulatory framework for trade with the P.R.C. and the expanding commercial relationship between the countries.
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