Deceptive Trade With China In Minnesota
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In 2024, the United States accounted for approximately 14.7 percent of Chinese exports, reaching their lowest level in the last decade.
China's trade practices, including intellectual property theft, state subsidies, forced technology transfers, and market access restrictions, have long been a source of tension between the U.S. and China.
An economic conflict between China and the United States has been ongoing since January 2018, when U.S. president Donald Trump began imposing tariffs and other trade barriers on China with the aim of forcing it to make changes to what the U.S. has said are longstanding unfair trade practices and intellectual property ...
Today, the US imports almost three times as much from China as they do from us. In 2024, China imported $143.5 billion worth of goods from the US, but the US imported $438.9 billion worth. When you take US exports to China and subtract US imports from China, you get the trade balance — or deficit, in this case.
Immediate economic impact The trade tensions have severely disrupted bilateral commerce. US seaborne imports from China plummeted 28.5% year-over-year in May, marking the steepest decline since the pandemic as Trump's brief 145% tariffs took effect.
The largest U.S. bilateral trade imbalance by far is with China. The United States ran a $295 billion goods deficit with China in 2024 (partially offset by a U.S. services surplus with China of $32 billion).
China Trade Summary U.S. goods imports from China in 2024 totaled $438.9 billion, up 2.8 percent ($12.1 billion) from 2023. The U.S. goods trade deficit with China was $295.4 billion in 2024, a 5.8 percent increase ($16.3 billion) over 2023.
China Trade Summary U.S. total goods trade with China were an estimated $582.4 billion in 2024. U.S. goods exports to China in 2024 were $143.5 billion, down 2.9 percent ($4.2 billion) from 2023. U.S. goods imports from China in 2024 totaled $438.9 billion, up 2.8 percent ($12.1 billion) from 2023.
