It raises some concerns that folks in this forum are probably interested in and could do something about. Things like forcing US companies doing business in China to transfer dual-use technologies, the lack of US suppliers for certain goods, like high tenacity polyester fiber, domestic production of PCBs, specialized glass for NVG systems, a shortage of software engineers, but also shortages in skilled trades, like welders.
The dominance of the Chinese in certain critical industries is also problematic. For example one manufacturer produces 70% of small drones, which then creates secondary attack surfaces, like lack of security on the drone’s link. Another is the Chinese takeover of solar panel manufacturing, which creates a potential energy security risk.
For those skeptical of any report from the current administration, I would refer you to Ash Carter’s Inside the Five-Sided Box (2) which raises many of the same issues.
(1) https://media.defense.gov/2018/Oct/05/2002048904/-1/-1/1/ASS...
(2) https://www.amazon.com/Inside-Five-Sided-Box-Lifetime-Leader...