U.S. China trade – The daily blog of behavioral and cognitive economics

What Do We Trade With China?

With the headlines telling us that a 145% tariff on China could now come down, we can ask, “On what?” Today, let’s take a closer look at the U.S. China trade relationship. We import almost three times as much from China as they buy from us: Specifying what the deficit refers to, the following graph displays electronics and machinery as top imports from China: At the same time, our top exports to China include the soybeans, wheat, and corn that are classified at oil seeds and grains: Although these services statistics are from 2021, still, we can get an idea of how China’s merchandise trade surplus is offset by U.S. services exports: ….[READ]