Title: U.S. Trade Deficit With China and Why It's So High
Headings: U.S. Trade Deficit With China and Why It's So High
U.S. Trade Deficit With China and Why It's So High
Key Takeaways
Annual Trade Deficit
What Causes the U.S.—China Trade Deficit?
Effects of the Trade Deficit
What's Being Done
Article Sources

Content: U.S. consumers benefit from low prices, and the government and economy benefit from capital being invested into the country. What's Being Done
President Donald Trump enacted a 25% tariff on steel imports and a 10% tariff on aluminum that went into effect on July 6, 2018, impacting $34 billion worth of Chinese imports. 10 ﻿
On December 13, 2019, Trump announced a trade deal between the United States and China, in which both countries agreed to increase certain imports and exports. 11 ﻿ He signed it on January 15, 2020. 12 ﻿
President Joe Biden, elected in November 2020, retained Trump's position on trade with China early in 2021 as his administration reviewed the former administration's policies. President Biden also publicly proclaimed that he would take measures to ensure the U.S. remained the top economy and power in the world. 13 ﻿ His new policies will address China's unfair trade practices, forced-labor programs, unfair import and export subsidies, censorship, and illicit use of American intellectual property. 9 ﻿
Article Sources
U.S. Census Bureau. " Foreign Trade - Trade in Goods With China ." Accessed April 22, 2021.