- US exports in value to China have risen 34.7% in the first seven months of 2021 compared to 2019,
- at USD 72.4 billion, exports this year are 14.1% higher than in the same period of 2017 before trade war tariffs were implemented
- higher exports from the US to China under the Phase One Agreement have added volumes for tanker
- the trade balance has in fact improved in the first seven months of this year, aided by higher valued exports
The trade war continues to rage in the shade of the headline-grabbing supply chain disruptions. The tariffs are still in place and are unlikely to go anywhere despite the change of administration in the United States says an article on Bimco.
Exports from China to the US
While higher exports from the US to China under the Phase One Agreement have added volumes for tanker and dry bulk shipping, containerized imports to the US have shifted from China to other countries in the region.
Trade balance improved
The first seven months of 2020 were severely impacted by the pandemic, creating an artificially low deficit. Compared with 2019, the trade balance has in fact improved in the first seven months of this year, aided by higher valued exports.
Risen by 34.7%
US exports in value to China have risen 34.7% in the first seven months of 2021 compared to 2019, and at USD 72.4 billion, exports this year are 14.1% higher than in the same period of 2017 before trade war tariffs were implemented.
Value of imports
While total imports measured in value from China are also up from 2019 (+4.0%), the total value of imports is down 1.2% in the first seven months of this year compared to the same period in 2017 (2017 being the final pre-trade war year).
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Source: Bimco
