US TRADE DATA 
                     EMERGING INTERNATIONAL TRADE BETWEEN THE USA
AND CHINA – REPORT FOR 2022
The USA is a superpower which is situated in Northern America whereas China is
situated in the Asian continent.  The trade relations between the nations have
grown  several  folds  and  reached  new  heights  in  recent  decades.  China  has
become the most famous import market in the United States. This statement is
supported by the fact  that  after  studying  US Import  Data for  many years,  an
increasing dominance of Chinese goods is observed.
The reasons why the United States is getting dependent on China for all kinds of
goods  are  the  low  prices,  high  profits,  and  numerous  varieties.  There  are
downsides  also  due  to  this  increased  dependence.  For  instance,  many  local
American workers lost their jobs due to high import competition and risk. 
BENEFITS OF TRADE BETWEEN THE USA AND CHINA
One of the biggest benefits to US consumers due to imports from China was the
availability  of  cheap  products  in  the  market.  Due  to  the  availability  of  cheap
products, the buying capacity of Americans grew by USD 1500 in a span of seven
years  (2000-2007).  Only  because  of  this  benefit,  China  has  become  the  third
biggest  market  for  exports  from  the  US.  Companies  in  America  have  earned
billions of  dollars  through sales  made in  China.  Moreover,  Chinese companies
have invested huge amounts in the US. 
China has also gained in wholesome due to its increased trade with the United
States. As the years passed, the economy of China has grown several folds and is
just  behind  the  US.  Due  to  this  superb  growth,  numerous  people  got  out  of
poverty and started living the best of their lives. 
USA AND CHINA TRADE - 2020 STATISTICS
Based on the  US Import  Data for  the year 2020, the country imported goods
worth USD 440 billion from China. The major products imported by the US from
China were:
 PCs and computers (USD 49 billion)
 Broadcasting equipment (USD 47.5 billion)
 Textiles and clothing articles (USD 16 billion)
In  the last  25 years,  the exports  made from China to the US grew by almost
10.5%, i.e., from USD 36.5 billion (1995) to USD 440 billion (2020).
Similarly,  if  we  refer  to  the  US  Export  Data for  the  year  2020,  the  country
exported goods worth USD 122 billion to China. Out of all, the major items that
were exported by the US to China were:
 Soybeans (USD 14 billion)
 Integrated circuits (USD 10.5 billion)
 Crude oil (USD 6.70 billion)
The exports from the US to China have also grown by 9.5% in the last 25 years.
This translates from USD 12.4 billion in 1995 to USD 122 billion in 2020. 
LATEST MARKET TRENDS OF THE US AND CHINA BILATERAL TRADE – DECEMBER
2022
Based on the US Trade Data for the month of December 2022, the US exported
goods worth USD 45.4 billion from China, whereas it imported goods worth USD
15.9 billion to China. This made the US come into a trade surplus of USD 29.5
billion. On comparing these statistics with the statistics of December 2021, we get
to  know  that  the  imports  of  the  US  from  China  reduced  by  USD  11  billion,
whereas the exports from the US decreased by USD 1.22 billion.
On the basis of the US Import Data for December 2022, the major imported items
from China to the US were:
 Telephones (USD 5.5 billion) 
 PCs (USD 4.2 billion)
 batteries (USD 1.58 billion)
 fixtures (USD 1 billion)
Similarly, the major items that were exported from the US to China as per the US
Export Data in the month of December 2022 were:
 Soybeans (USD 4.01 billion)
 Petroleum gas (USD 931 million)
 Integrated circuits (USD 910 million)
 Automobile (USD 580 million)
 Crude oil (USD 466 million)
WHAT IS THE FUTURE OF US-CHINA TRADE?
In recent times, the president of the United States, Joe Biden has shown interest
to keep the economic escalation going forward that too against China. This has
raised some serious questions about the future of this bilateral trade between the
two nations.  To take this  step to next  level,  the US would  be using domestic
methods to counter China. 
As per our estimates, the trade between these countries would reduce to some
extent in the coming years. Covid-19 is also one of the causes that are causing this
situation to aggravate. Let’s see what happens next. To stay updated with this,
keep following us.
POINT TO REMEMBER AND CONSIDER
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