US imports from China down 3.4%
Imports from the United States from China fell 3.4% in June at an annual rate, to reach $ 37.639 million, reported the Census Bureau.
Conversely, US exports of products to the Chinese market totaled $ 9.242 million.
With this, the United States registered a deficit in its trade balance of $ 28,397 million.
Overall, historical patterns in the economic relationship between the United States and China are breaking down as bilateral trade frictions become more entrenched.
While the U.S. deficit in goods trade with China hit a record $ 419.5 billion in 2018, the trade imbalance narrowed the following year (-345.617 million) as bilateral tariff actions affected imports and exports. and they reconfigured patterns and business relationships.
From the US government’s perspective, the Chinese government’s commitment to preserving its dominant role in determining economic performance has made reaching a comprehensive agreement increasingly difficult.
Imports from the United States
In the accumulated of the first semester of 2020, imports from the United States were for 181,208 million dollars, while trade flows in the opposite direction totaled 49,491 million, so the negative balance for the United States economy was 131,717 million.
Imports of the United States from China are mainly made up of telephones, computers, toys, televisions, footwear, plastic articles and lamps.
The United States has pursued and supported China’s largest economic opening since relations normalized in 1979. However, the Chinese government chose to retain or even strengthen many of the characteristics of the command economy.
The United States’ efforts to address what it considers to be market distortion practices by the Chinese government have led to the imposition of 15-25% tariffs covering around $ 362 billion in annual imports from China, and China responding with tariffs. between 5 and 25% that cover $ 139 billion in purchases from the United States.
