Title: Benefits of Trade with China
Headings: U.S. Department of the Treasury
U.S. Department of the Treasury
Press Center
Benefits of Trade with China

Content: Benefits of Trade with China
U.S. Department of the Treasury
Press Center
Home » Press Center » Press Releases » Benefits of Trade with China
Benefits of Trade with China
5/24/2007
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HP-423
China is America's 4th largest export market and 2nd largest import supplier for goods trade. U.S. exports to China last year totaled $55.2 billion and U.S. imports from China totaled $287 billion. Since China joined the WTO in 2001, U.S. merchandise exports to China increased 187 percent. During the same period, U.S. exports to the rest of the world grew 38 percent. The United States has a services trade surplus with China. It was $2.6 billion in 2005. Consumer goods, sporting equipment, apparel and footwear – relatively low value added consumer products – are among the U.S.'s top imports from China. High value-added manufacturing products are among top U.S. exports to China, such as electrical machinery and power generation equipment, medical instruments, plastics, aircraft, iron and steel, and agricultural products. China is often the last stop in the assembly process and thus the recorded import supplier to the United States. However, materials and components are often first imported into China from other Asian countries then assembled for export.