The great achievements of China’s economy come from reform and opening-up strategy. To make China’s economy more brilliant, we need to deepen reform and opening-up and can not be disturbed by Trump’s “American interests first”strategy. The focus of Sino-US trade frictions consists of the imbalance of US-China trade deficit, technology transfer and intellectual property rights protection, financial service industry opening, and exchange rate issues, etc. These increase China’s economic and financial risk. New trends in Sino-US trade frictions show that the first four rounds of high-level Sino-US economic and trade talks were the US overwhelming demands for talks but not going well; the last three rounds of high-level consultations are from implementing the important consensus of the two Heads of State to launching negotiation agreement texts. However, the challenge is large. In the current international economic system, Sino-US cooperation is far more important than their opposition. The US will not voluntarily abandon frictional confrontation, and China needs to respond positively and can not ignore the new trade rules intended to be reconstructed in the joint statements of the US, EU and Japan. China needs to create an international first-class business environment to resolve trade frictions.