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: Understanding the US-China Trade Relationship | US-China Business Council
Understanding the US-China Trade Relationship
USCBC and Oxford Economics Announce Release of Job Study Report (Audio)
Executive Summary
Today, the US-China trade relationship actually supports roughly 2.6 million jobs in the United States across a range of industries, including jobs that Chinese companies have created in America. And as the Chinese middle class continues its rapid expansion over the next decade (the number of Chinese middle-class consumers will exceed the entire population of the United States by 2026), US companies face significant opportunities to tap into a new and lucrative customer base that can further boost employment and economic growth. Economic data show that nations trading closely with China outperform nations with less integrated trade ties, and we expect this trend to continue. Examples of the benefits to the US economy from trade with China include: China purchased $165 billion in goods and services from the United States in 2015, representing 7.3 percent of all US exports and about 1 percent of total US economic output. 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.