With the onset of the COVID-19 pandemic and the serious supply chain vulnerabilities it has exposed, we are seeing a seismic shift in US policy and regulation, from stepped-up measures to protect US technology, intellectual property and data from theft or acquisition by China to a new national imperative to end US dependence on China for strategically important materials, components and products. In this paper, we provide a comprehensive discussion of the security -driven, China-focused policy and regulatory developments affecting private sector businesses, with particular attention to recent changes addressing US supply chain concerns.