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8.02.2023, 20:38
US-China trade in 2022 hits record high despite tensions
US-China trade in 2022 hits record high despite tensions
The report states that US-China imports and exports hit $690.6 billion. With the US importing more toys and other consumer goods, China importing more soybeans and other foods, the strong figures stand in the face of increasingly strained US-China relations.
US exports to China rose $2.4 billion to $153.8 billion. While imports from China rose $31.8 billion to $536.8 billion. This was driven by strong consumer spending in the United States in the first half of 2022, with imports and exports between the two countries previously at $659 billion in 2018.
Mr. Kensuke Abe of Marubeni Trading Company “Buying Chinese goods at low prices is attractive to US importers. Even if it's taxed."
The Nikkei Asia news agency reported that Currently, tariffs are still imposed on most Chinese goods. After such measures were introduced under the Trump administration, such as toys and plastic products worth $370 billion. The US President Joe Biden's administration is considering lowering import tariffs as part of tackling hyperinflation. But it scrapped the plan after US-China tensions escalated. Partly due to the fact that Ms. Nancy Pelosi, Speaker of the House of Representatives at that time Visited Taiwan last summer.
Ms Wendy Cutler, Vice President of the Asia Society Policy Institute “The record high in US-China trade in 2022 underscores that despite the ex-President's export controls and tariffs, the United States' record highs in trade between the United States and China in 2022 underscore the fact that despite ex-president's export controls and tariffs, the United States' record highs in trade with China in 2022 underscore the fact that despite the former US acting deputy US Trade Representative (USTR), the record highs in US-China trade in 2022 underscore the fact that despite the ex-president's export controls and tariffs,” the former acting deputy US trade representative (USTR) said. continually trump But the US-China trade relationship remains strong.”
Source of RYT9 news
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