As the “fourth industrial revolution” unfolds, technology competition between the United States and China progresses. Its outcome is going to determine the competitiveness of both countries as well as the outline of the world economy. Japan lags behind the United States and China in terms of the scale and depth of innovative development but is the top producer of a range of knowledge-intensive products. The economies of the United States, Japan, and China are characterized by a high degree of complementarity and interdependence, and by the intertwining of complex production networks that multinational enterprises have built over the past few decades. Currently, the United States and Japan are forming the institutional framework for scientific and industrial cooperation in knowledge-intensive fields that are a priority for new technologies and digital economy development. An important area of bilateral cooperation is the creation of a system of international standards for digital trade. The US government foreign trade policy is aimed at strengthening the alliance with Japan to jointly counter global challenges. If the plans for cooperation announced by both parties are implemented, the rapprochement of the two economies will reach a new level.