The simmering trade war between the U.S. and China has led both sides to raise tariffs, but the lopsided trade relationship between the two countries means the impact will fall heaviest on Chinese producers and American consumers and farmers.
The U.S. imported a record $539.5 billion in goods from China in 2018. The U.S. is a net importer from China in most market segments such as consumer electronics, apparel, furniture and industrial supplies. The one major exception: agriculture.
By contrast, the U.S. shipped a much smaller $120.3 billion in goods to China last year, Census trade figures showed.
Exports to China fell from almost $130 billion in 2017 as buyers shunned American soy and corn. U.S. farm exports to China fell to $5.9 billion in 2018 from $15.9 billion in the prior year.
President Trump has raised or in the process of hiking tariffs on virtually all goods imported from China because talks to resolve disputes over fairer trading rules have faltered. The president will meet with the Chinese leader this week to try to resolve the impasse.
The U.S. imported a record $539.5 billion in goods from China in 2018. The U.S. is a net importer from China in most market segments such as consumer electronics, apparel, furniture and industrial supplies. The one major exception: agriculture.
By contrast, the U.S. shipped a much smaller $120.3 billion in goods to China last year, Census trade figures showed.
Exports to China fell from almost $130 billion in 2017 as buyers shunned American soy and corn. U.S. farm exports to China fell to $5.9 billion in 2018 from $15.9 billion in the prior year.
President Trump has raised or in the process of hiking tariffs on virtually all goods imported from China because talks to resolve disputes over fairer trading rules have faltered. The president will meet with the Chinese leader this week to try to resolve the impasse.
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