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: 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. At an aggregate level, US consumer prices are 1 percent - 1.5 percent lower because of cheaper Chinese imports. The typical US household earned about $56,500 in 2015; trade with China therefore saved these families up to $850 that year. Since 2003, productivity growth in US manufacturing outpaced most advanced economies. Oxford Economics calculates that US manufacturing productivity increased by 40 percent from 2003 to 2016, or 2.5 percent annually, compared with 23 percent in Germany.