printable business plan

Business Plan Templates

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2 Essential Templates For Starting Your Business. Available as an interactive PDF or a Google Docs template.

With this business plan template, you'll be able to:

• Write a company description that sells your story
• Plan for the future: lay out goals and metrics for success
• Describe your product line in detail and plan for how to stand out from competitors
• Consider any legal formalities that require attention when starting your business
• Put together necessary financial projections to make a strong start
• Create your buyer persona and determine your product/marketing fit

Build A Business Plan That Works

Available as a one-page interactive PDF and a full template on both Google Docs and Microsoft Word!

Whether you’re starting a business or drafting a formalized document with  your current business goals, it’s important to clearly defi ne the scope of all aspects of the venture — from mission, to target customers, to fi nances, and beyond.

When just starting out, it can be tempting to think of a business plan as simply your company’s name and a description of your product or service. But in reality, planning a business involves thinking through a lot more details.

In this business plan template we’ll guide you through the steps of writing company and product descriptions, setting sales and marketing goals and plans, and thinking through legal and fi nancial logistics. We've included a  plain text, designed , and  completed example version of this template. 

Frequently Asked Questions (FAQs)

How do you write a business plan.

A business plan is a formal written document that you can use to identify the purpose of your company, make important decisions about your future and help grow your company. HubSpot's free business plan templates provides guidance to establishing your company mission, customer research, competition, and a business strategy to profitability.

Why do I need to fill out the information requested?

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Where can I get a free business plan template?

HubSpot's Free Business Plan Templates are the best way to create a professional, thorough business plan. The templates include instructions and everything you need to know about starting your company.

Is this really free?

Absolutely.

Just sharing some free knowledge that we hope you’ll find useful. Keep us in mind next time you have marketing questions!

What are the basic format of a business plan?

A business plan is a written document that outlines the company's goals, strategy and implementation. The format of the plan varies depending on the type of organization (e.g., for-profit or nonprofit) and size, but most plans share some common features such as an overview, executive summary, and financial information.

What is the best business plan template?

A great business plan template clearly defines the scope of the venture -- from mission, to target customers, to finances, and beyond. HubSpot's business plan template will guide you through the steps of writing company and product descriptions, setting sales and marketing goals and plans, and thinking through legal and financial logistics.

What is needed to start a business?

If you're thinking about starting a business, you'll need to do some research first. You can't just start a business without doing any market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. After that, write your business plan so that you know how much money and time it will take for the project to succeed. Use HubSpot's free business plan template today!

Set yourself up for success with this business plan template

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Simple Business Plan Template for Word, PDF

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Template Highlights

• Ten sections: Company description, Opportunity, Industry Analysis, Target Market, Management Team, Marketing Strategy, Timeline, Financial Plan, Conclusion. Bonus Appendices section, if you want to get fancy
• Detailed instructions for each section
• Add new sections or delete unnecessary ones -- the template is your oyster
• Make it yours with your logo and branding
• Download it as a PDF or Word file
• Print it, email it, send it by carrier pigeon if that's your jam

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Simple business plan template.

Business Plan Template

Executive Summary

Begin with a brief description of your company to give background and context. Tell the reader why you have embarked on this new venture.

Then, move into a description of the opportunity. Explain your project from the broadest to most narrow context. Tell readers what product or service you plan to offer, how it fits into the industry you’ll operate within, who your target customers are, and what you expect from the market in the future. Explain your value proposition, and give an overview of the market.

Briefly describe your management team to help potential investors understand the skills and experience your company brings to the table. Next, move into a description of how your business will operate on a day-to-day basis.

Then, describe how you will promote your new product/service. You don’t need to go into detail here, but you should provide enough information to illustrate the marketing methods you will use and how you will attract new customers.

Describe the cost structure and financial aspects of the business. You’ll need to explain the kind and amount of investment that you need, what you will use the money for, and how you envision your business becoming profitable.

Next, you should move into a description of how you will implement your business plan. How will you roll out your new business? What is the expected timeline?

Finally, close this section with a clear, pithy explanation of your project, why it is needed, and how it will benefit future customers and investors.

HubSpot Tip: Write this section last, after you have written all of the other sections. It should summarize your entire business plan in a page or two (at most).

Company Description

Provide a description of your organization. Include the company’s name, what type of entity it is, who owns it, and note any significant assets.

This is a good place to talk about why you do what you do. What is your company’s mission statement? What are your goals and objectives?

What product or service do you provide? Who are your customers? Do you have a geographic focus? If so, where?

Briefly describe the industry, the opportunities it offers, and the growth it is experiencing.

Note some of your company’s main strengths and briefly explain where you fit into the industry. You will delve more deeply into this later.

HubSpot Tip: Keep this section brief. You will have plenty of time to talk about the details of your company and the business opportunity later in the document.

The Opportunity

Describe the need in the market that your business idea will fill. How did this need arise and why has it not been filled yet?

Explain how you identified the need and how your product/service will meet it.

Describe your products/services here. You can include diagrams or pictures to help illustrate your offering.

You should also include a description of the features and benefits of your product/service to your customer. Consider capturing this in a simple table like the one below.

Product/Service Feature

Benefit to the Customer

HubSpot Tip: Be sure to include your value proposition in this section – describe how your service/product is attractive to customers.

Industry Analysis

In this section, you’ll want to talk about the key environmental trends in your industry. What are the barriers to entry (e.g., high production or marketing costs, tariff barriers, regulatory challenges, extensive training)? How is the industry progressing? What is changing?

Then think about your business’ competitive advantage. Are there other companies providing the same good/service that you will be offering? If so, are customers likely to switch to your product/service? How do you compare with your competitors?

HubSpot Tip: Note the key factors for success in this industry, and show that your company has them.

Target Market Research and Definition

Based on the market research that you previously conducted, provide an explanation of the market in which your business will reside. How big is the market? How fast is it growing? Will your product/service be a major factor in the market?

Define your target customers. Who do you expect to buy your product/service?

You should identify and describe your major competitors in this section, as well.

Identify what defines your product/service in the marketplace. What distinctive competencies or offerings do you offer that other companies do not?

HubSpot Tip: Though you want to mention some competitors, make sure the focus is on your business and how it will serve your target customers.

Management Team & Organization

Your readers will want to know that your team has the skills and qualifications to implement what you have outlined in the business plan. Include brief biographical sketches of your leadership, including the board of directors (if you have one) and any high-level external advisors that your company uses.

Include their educational credentials and a description of the relevant work they have done and accomplishments they have achieved. You can also personalize this section with headshots of your staff to help put faces to the names.

If you have a complicated management structure, consider including an organizational chart like the one shown below. Tailor it to include the names and roles of your leadership team.

HubSpot Tip: You don’t need to include descriptions of every position in the company, just high-level management.

Operations Plan

In this section, describe how you will manage your business and what daily operations will look like. You should cover at least the following topics, and any other relevant information that might be unique to your industry:

• Staffing – How many employees will you have? Where will they be located? What kinds of skills and certifications do they need?

• Infrastructure – What kind of physical space will your company occupy? Describe your business locations. What kinds of technologies will you require?

• Legal Structure – Legal issues are important in every industry. Describe the unique aspects of yours and how you will address them.

• Regulatory – Regulations also play a key role in most businesses. Include a discussion of the regulatory issues faced in your industry and how you will handle them.

• Certifications or Accreditations - Does your company require any special documentation to do business? If so, describe how you’ll attain the required certification or accreditation.

• Product/Service Delivery Process – Describe your business processes. These might include inventory, supply chain, and accounts payable and receivable.

HubSpot Tip: This list is not exhaustive, so be sure to include enough information to help potential investors understand how your business will operate.

Marketing Strategy

Marketing is a crucial to the success of any business. Building on what you described in the Target Market Research and Definition section, define the components of your strategy to market your product/service.

Describe any challenges, including barriers to entering the market. What potential problems do you foresee? How will you address them?

Explain why you have chosen to operate your business in the selected location. Are there cost savings involved in choosing this location? Does it bring you closer to your customer base?

What is your pricing strategy? Explain and provide clear evidence for why the pricing structure you selected will lead customers to buy your products/services and will, at the same time, result in a profit for your business and investors.

Describe your plan for promoting your new business, product, or service. Will you use print, radio, television, or social media? Will you hire a marketing manager?

Be sure to indicate the budget for your marketing strategy and where you will obtain the funding for this important aspect of your business. You may need to employ consultants or an advertising agency – be sure to include these costs.

HubSpot Tip: Consider including a few mockups of your logos, packaging, and even advertisements to give potential investors a preview of your company’s marketing materials.

Implementation Plan And Timeline

Describe the phases in which your business will be rolled out. Indicate which phase you are in currently, and how long it will take to bring your product/service to market.

Consider including a timeline like the one below to illustrate the steps in the process. Customize it with your dates and the specific steps for your business.

HubSpot Tip: While aiming to please potential investors, be sure to set reasonable deadlines that you are able to meet.

Financial Plan

Tell your potential investors the amount of funds you have received thus far and who provided them. How much more funding do you require?

Describe how you will use each part of the funding you are requesting. Investors often feel more comfortable if they know exactly how their money will be used.

Give readers a peek into your company’s projected financial future. Include the following as appendices, but describe them in this section:

• Cash flow projection – An estimate of how much money you expect to flow in and out of your business.

• Capitalization plan – Lists the sources and uses of capital that your business plans to amass.

• Break-even analysis – A determination of what you need to sell in order to cover the costs of doing business.

In addition to the above, you’ll need to include an income statement and balance sheet. Since these could be long and were likely developed in Excel or an accounting software, you should reference them here and include them in an appendix.

You will also want to explain any assumptions that you have made that affect your financial information. Later you will be able to point to these to explain why something may have turned out differently than expected.

HubSpot Tip: This is one of the most important sections of your business proposal. If you are not an expert in finance, be sure to seek assistance from someone who is.

In a few sentences, summarize the main point that you would like the reader to understand about your business. Aim to convince them that they should invest!

Describe the next steps, and give detailed contact information so that they can get in touch with you easily.

HubSpot Tip: This section should incite the reader to act. Make it easy for your potential investors by including in this section all of the information they need to move forward.

Include any supporting documents for the previous sections here. You can reference them in the text and use them to provide additional detail without breaking up the flow of your business plan text.

HubSpot Tip: Some items you could include are: marketing materials, maps of the business location, background research, articles that have been written about the company, and financial documents.

Frequently Asked Questions

How do i write a simple business plan, is this template free, can i edit this template, related tags:.

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Additionally, she is a Columnist at Inc. Magazine.

Powerful business plan templates

Plan for the future, no matter what your business plans are or the size of your business with these designs and templates. whether it's just one big project or an entire organization's worth of dreams, these templates will keep you and your company on track from ideation to completion..

Put your ideas to work with simple templates for every business plan

Every successful business took a lot of planning to get there, and these templates will be cornerstones of your future success. Whether you're looking to attract new business, pitch your services or reimagine your company, with these simple, customizable templates at your fingertips you can turn complexity into something tangible. These templates can become marketing assets or simply remain internal touchpoints for your team. And as your dreams change, you'll always have this template to refer to – it's easy to change what exists on paper. If you're a small business, focusing on your niche can help you dominate in your field, and you can forge a plan to figure out exactly what that niche might be and how to target your ideal customer . When it's time to share your vision with stakeholders, craft a presentation that outlines your plan succinctly and with style. Let these templates from Microsoft Designer be your partner in business strategy for years to come.

Free Fill-In-the-Blank Business Plan Templates

By Joe Weller | April 22, 2020

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In this article, we’ve compiled the most useful fill-in-the-blank business plan templates for you to download for free in Word, PDF, and Excel formats.

Included on this page, you’ll find a simple fill-in-the-blank business plan template , a fill-in-the-blank nonprofit business plan template , and a fill-in-the-blank Lean business plan template , as well as a 5-step how-to for filling out your business plan .

Simple Fill-In-the-Blank Business Plan Template

This fill-in-the-blank business plan template is easy to use and will help guide you as you write your business plan. It comes with all the standard components of a business plan and allows you to customize content that’s relevant to your product or service. 

Download Simple Fill-In-the-Blank Business Plan Template

Word | PDF  | Smartsheet

Fill-In-the-Blank Business Plan Template for Startups

This fill-in-the-blank business plan template is designed for the startup business that needs funding and resources to get up and running. Use this template to provide your potential investors and stakeholders with information on your product and service offerings, timeline of milestones, financial requirements, marketing efforts, market analysis, and other key details.

‌Download Fill-In-the-Blank Business Plan Template for Startups

Fill-In-the-Blank Small Business Plan Template

Use this fill-in-the-blank small business plan template to guide you through each part of your business strategy — whether you have an established business or plan to start at a future date. This business plan comes with a title page and includes ready-to-fill content in each section to keep your plan thorough and organized. 

Download Fill-In-the-Blank Small Business Plan Template

Fill-In-the-Blank Nonprofit Business Plan Template

Use this fill-in-the-blank nonprofit business plan template to convey your nonprofit organization’s purpose and objectives to stakeholders. This template includes space for information about your nonprofit’s background, key personnel, program offerings, market analysis, marketing activities, fundraising methods, and much more. 

Download Fill-In-the-Blank Nonprofit Business Plan Template

Fill-In-the-Blank Lean Business Plan Template

This fill-in-the-blank lean business plan template enables you to highlight the key details of your plan on a single page. The template also gives you room to add the following: the names of your management team members; a visual timeline of your milestones; your unique value proposition, target customers, marketing activities, cost structure, and revenue streams; and the details about the problem you’re solving. 

Download Fill-In-the-Blank Lean Business Plan Template

Excel | Word | PDF

For additional resources related to a lean business plan, check out “One-Page Business Plan Templates.”

How Do You Fill Out a Business Plan?

How you write your business plan depends on the size and nature of your business. Below, we outline five simple steps you can take to prepare and fill out your business plan.

• Determine the Purpose of Your Business Plan: Are you creating a strategic roadmap for your business? Are you seeing if your business idea is feasible? Are you trying to attract investors? When you understand the goals of your plan, you can tailor it to your specific needs. For example, if the goal of your plan is to persuade investors to take a chance on your business, you should include sections that discuss your funding goals, how you plan to use any investment funds, what investors will receive in exchange for their investment, and what key milestones you plan to achieve with the funds. Once you determine the purpose of your plan, you will have a better idea of what information to convey and highlight in your plan. 
• Executive Summary
• Company Overview
• Market Analysis
• Organization Structure
• Service or Product Offerings
• Marketing Plan
• Sales and Operations Plan
• Financial Plan
• Financial Projections
• Conduct Research: Gather and analyze all the information you can about your business, including market and industry trends, target customers, competitors, and product or service offerings. To write a thorough and effective plan, you must have a keen understanding of your organization, your market, and the industry in which you operate. Some effective ways to conduct research include looking at your historical sales records, interviewing customers, sending surveys to your target audience, and looking at direct competitors in your industry.
• Fill In Each Section of Your Business Plan Outline: Use the research you gathered in the last step to fill out the relevant sections of your business plan outline. Only include information that is essential to the operation of your business, and keep the outline concise in order to make sure that the pertinent details don’t get lost in a sea of information. Be sure that each section of your outline focuses on and aligns with the purpose of your business plan.
• Organize and File Away All Documentation That Pertains to Your Business: File away all the information you compile about your business in an accessible location, and make sure that this information is well organized. Have a system in place to quickly locate any information that investors and stakeholders need, such as licensing agreements, patents, or other vital documentation. In addition, add some of this supporting documentation to the appendix section of your business plan and make sure you can easily locate and update it as your strategies and objectives change.

Find additional business plan templates, including a customizable business plan outline template, by visiting “Simple Business Plan Templates.”  You can learn how to write a successful simple business plan here . Visit this free non-profit business plan template roundup  or if you are looking for a business plan template by file type, visit our pages dedicated specifically to  Microsoft Excel ,  Microsoft Word , and  Adobe PDF  business plan templates. Read our articles offering  startup business plan templates  or  free 30-60-90-day business plan templates  to find more tailored options.

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SoftBank's Arm plans to launch AI chips in 2025

CEO Son seeks to invest $64bn, including in data centers and robotics

TOKYO/LONDON -- SoftBank Group subsidiary Arm will foray into the development of artificial intelligence chips, seeking to launch the first products next year.

The move is part of SoftBank Group CEO Masayoshi Son's 10 trillion yen ($64 billion) push to transform the group into a sprawling AI powerhouse.

Taiwan chipmaker PSMC opens plant with eye on AI semiconductors

Grading the chips act and the other costs of ai, tokyo electron eyes 20% sales boost as ai lifts demand for chips, ai memory emerges as new battleground for sk hynix, samsung and others, microsoft to build $3.3bn ai data center on old foxconn site, buyer of $2bn softbank fund plans nimbler venture capital for ai era, nvidia goes big and u.s. chip projects stutter, softbank to set up robotics venture with saudi arabian company, latest on technology, google unveils all-purpose ai agent as rivalry with openai heats up, singapore's sea posts record revenue in q1 on e-commerce growth, foxconn's sharp pivots to ai after decision to exit tv display production, sponsored content, about sponsored content this content was commissioned by nikkei's global business bureau..

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

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Biden hiking tariffs on Chinese EVs, solar cells, steel, aluminum — adding to tensions with Beijing

WASHINGTON — The Biden administration announced plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment — an election-year move that’s likely to increase friction between the world’s two largest economies.

The tariffs come in the middle of a heated campaign between President Joe Biden and his Republican predecessor, Donald Trump, in which both candidates are vying to show who’s tougher on China.

The tariffs are unlikely to have much of an inflationary impact because of how they’re structured. Administration officials said they think the tariffs won't escalate tensions with China, yet they expect that China will explore ways to respond to the new taxes on their products. It's uncertain what the long-term impact on prices could be if the tariffs contribute to a wider trade dispute.

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The tariffs are to be phased in over the next three years, with those that take effect in 2024 covering EVs, solar cells, syringes, needles, steel and aluminum and more. There are currently very few EVs from China in the US, but officials worry that low-priced models made possible by Chinese government subsidies could soon start flooding the US market.

Chinese firms can sell EVs for as little as $12,000. Their solar cell plants and steel and aluminum mills have enough capacity to meet much of the world’s demand, with Chinese officials arguing that their production keeps prices low and would aid a transition to the green economy.

Lael Brainard, director of the White House National Economic Council, said the tariffs will raise the cost of select Chinese goods and help thwart Beijing's efforts to dominate the market for emerging technologies in ways that pose risks to US national security and economic stability.

“China is simply too big to play by its own rules,” Brainard told reporters on a Monday call previewing the announcement.

Administration officials have stressed that the decision on tariffs was made independently of November's presidential election. But Brainard noted in her remarks that the tariffs would help workers in Pennsylvania and Michigan, two of the battleground states that will decide who wins the election.

Under the findings of a four-year review on trade with China, the tax rate on imported Chinese EVs is to rise to 102.5 percent this year, up from total levels of 27.5 percent. The review was undertaken under Section 301 of the Trade Act of 1974, which allows the government to retaliate against trade practices deemed unfair or in violation of global standards.

Under the 301 guidelines, the tariff rate is to double to 50 percent on solar cell imports this year. Tariffs on certain Chinese steel and aluminum products will climb to 25 percent this year. Computer chip tariffs will double to 50 percent by 2025.

For lithium-ion EV batteries, tariffs will rise from 7.5 percent to 25 percent in 2024. But for non-EV batteries of the same type, the tariff increase will be implemented in 2026. There are also higher tariffs on ship-to-shore cranes, critical minerals and medical products.

The new tariffs, at least initially, are largely symbolic since they will apply to only about $18 billion in imports. A new analysis by Oxford Economics estimates that the tariffs — which would be implemented over time — will have a barely noticeable impact on inflation by pushing up inflation by just 0.01 percent.

Still, Chinese officials voiced their frustration with the move.

Chinese embassy spokesperson Liu Pengyu rejected US claims that Beijing has encouraged excess factory capacity in order to dominate global trade in these goods. He also said that more expensive EVs and solar panels will make it more difficult to transition away from fossil fuels to renewable energy.

“Despite its professed willingness to strengthen cooperation with China on climate change, the US has been hyping up the so-called ‘overcapacity’ in China’s new energy sector and vowing to impose additional tariff hikes on Chinese electrical vehicles and solar products,” Liu said. “This is self-defeating.”

The Chinese economy has been slowed by the collapse of the country’s real estate market and past pandemic lockdowns, prompting Chinese President Xi Jinping to try to jumpstart growth by ramping up production of EVs and other products, making more than the Chinese market can absorb.

This strategy further exacerbates tensions with a US government that claims it's determined to strengthen its own manufacturing to compete with China, yet avoid a larger conflict.

“China’s factory-led recovery and weak consumption growth, which are translating into excess capacity and an aggressive search for foreign markets, in tandem with the looming US election season add up to a perfect recipe for escalating US trade fractions with China,’’ said Eswar Prasad, professor of trade policy at Cornell University.

China’s production of EVs and other green products are “coming to be seen by the US as a zero-sum game in which China plays the spoiler that could hamper a US manufacturing revival,’’ Prasad said.

The Europeans are worried, too. The EU launched an investigation last fall into Chinese subsidies and could impose an import tax on Chinese EVs.

After Xi’s visit to France last week, European Commission President Ursula von der Leyen warned that government-subsidized Chinese EVs and steel “are flooding the European market. … The world cannot absorb China’s surplus production. Therefore, I have encouraged the Chinese government to address these structural overcapacities.’’

The Biden administration views China with subsidies of its own manufacturing as trying to globally control the EV and clean energy sectors, whereas it says its own industrial support is geared toward ensuring domestic supplies to help meet US demand.

“We do not seek to have global domination of manufacturing in these sectors, but we believe because these are strategic industries and for the sake of resilience of our supply chains, that we want to make sure that we have healthy and active firms,” Treasury Secretary Janet Yellen told reporters Monday.

The tensions go far beyond a trade dispute to deeper questions about who leads the world economy as a seemingly indispensable nation. China's policies could make the world more dependent on its factories, possibly giving it greater leverage in geopolitics. At the same time, the United States says it's seeking for countries to operate by the same standards so that competition can be fair.

For it's part, China maintains that the tariffs are in violation of the global trade rules that the United States originally helped establish through the World Trade Organization.

Chinese Foreign Ministry spokesperson Lin Jian said Friday that the new tariffs compounded the problems caused by tariffs that the Trump administration had previously put on Chinese goods, which Biden has kept.

“Instead of ending those wrong practices, the US continues to politicize trade issues, abuse the so-called review process of Section 301 tariffs and plan tariff hikes,” he said. “This will just double the US’s fault.”

Those questions are at the heart of November’s presidential election, with a bitterly divided electorate seemingly united by the idea of getting tough with China. Biden and Trump have overlapping but different strategies.

Biden sees targeted tariffs as needed to defend key industries and workers, while Trump has threatened broad 10 percent tariffs against all imports from rivals and allies alike.

Biden has staked his presidential legacy on the US pulling ahead of China with its own government investments in factories to make EVs, computer chips and other advanced technologies.

“So far, we’ve created $866 billion in private-sector investment nationwide — almost a trillion dollars — historic amounts in such a short time,” Biden said last week in Wisconsin. “ And that’s literally creating hundreds of thousands of jobs.”

Trump tells his supporters that America is falling further behind China by not betting on oil to keep powering the economy, despite its climate change risks. The former president may believe that tariffs can change Chinese behavior, but he believes that the US will be reliant on China for EV components and solar cells.

“Joe Biden’s economic plan is to make China rich and America poor,” he said at a rally earlier this month in Wisconsin.