Overseas R&D was recognized as an effective path for developing countries to achieve technological catch-up. Extant literature has confirmed the feedback role of overseas R&D in enhancing innovation performance based on the antecedents of economic and trade liberalization. However, against the backdrop of increasing global trade protectionism, the free flow of resources has become more difficult, and it remains uncertain whether overseas R&D can play its intended role. To this end, based on data from Chinese high-tech listed companies, how trade friction affects the overseas R&D performance of Chinese enterprises in the specific context of China-US trade friction was explored. It is found that instead of eroding the overseas R&D performance of Chinese firms, trade friction between China and the US has a push effect, which drives Chinese firms to improve investment efficiency and accumulate international investment experience, and then enhances the feedback role of overseas R&D. By distinguishing the destination of overseas R&D, the feedback role found to be more pronounced in samples from non-US countries. In contrast, R&D in the US is more directly impacted by trade friction, which dilutes the benefits of improving investment efficiency and accumulating international experience. The research findings not only deepen the relevant research on how trade protectionism and barriers affect the investment performance of multinational enterprises in international business theory but also provide insights into how Chinese enterprises can fully unleash the potential of overseas R&D in a highly uncertain investment environment.