Title: Understanding the US-China Trade Relationship | US-China Business Council
Headings: Understanding the US-China Trade Relationship
Understanding the US-China Trade Relationship
USCBC and Oxford Economics Announce Release of Job Study Report (Audio)
Executive Summary
Examples of the benefits to the US economy from trade with China include:
Oxford Economics US Jobs and China Trade Report.pdf
OE Jobs Report Presentation.pptx

Content: Although some US manufacturing jobs have been lost because of the trade deficit, US firms sell high-value products to China, including cars and trucks, construction equipment, and semiconductors, which support jobs. US firms also export business and financial services, totaling $6.7 billion in 2014 and $7.1 billion in 2015. By 2030, we expect US exports to China to rise to more than $520 billion. As China has become an integral part of the global manufacturing supply chain, much of its exports are comprised of foreign-produced components delivered for final assembly in China. If the value of these imported components is subtracted from China’s exports, the US trade deficit with China is reduced by half, to about 1 percent of GDP—about the same as the US trade deficit with the European Union. America’s 11th-largest export market in 2000, China has grown to become the third-largest destination for American goods and services. US exports to China directly and indirectly supported 1.8 million new jobs and $165 billion in GDP in 2015. When the economic benefits generated from US investment in China and Chinese investment in the US are combined, the total amounts to 2.6 million US jobs and about $216 billion of GDP. China is expected to continue to be one of the fastest growing major economies, creating growth opportunities for American companies— provided China proceeds with economic reforms that will remove lingering market access barriers in many sectors. Chinese manufacturing also lowered prices in the United States for consumer goods, dampening inflation and putting more money in American wallets.