As the United States intensifies efforts to reduce its reliance on Chinese biomedical companies, new restrictions are reshaping the pharmaceutical and biotechnology industries. Washington CORE examines the growing push toward U.S.-China decoupling, including the impact of export controls, national security designations, and the BIOSECURE Act. The report explores the challenges of replacing Chinese partners in drug development, genomic diagnostics, and biomanufacturing, while highlighting emerging opportunities for U.S. and allied companies, including Japanese manufacturers, to expand their presence in the American biomedical market.