Title: U.S.-China trade scorecard: advantage China
Headings: U.S.-China trade scorecard: advantage China
U.S.-China trade scorecard: advantage China
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Content: U.S.-China trade scorecard: advantage China
U.S.-China trade scorecard: advantage China
Roger Yu
USA TODAY
When President Trump meets with Chinese President Xi Jinping this week, he will remind his guest that China runs the largest trade surplus with the United States, and that persistent pattern has led to the mass exodus of American jobs in the last decade. U.S. industries from textiles and electronics to agriculture and construction equipment have flocked to China in recent years, partnering with factories that hire low-cost workers and operate under lax environmental and labor practice standards. The U.S. shipped $116 billion of goods to China in 2016, making it the third largest export market after Canada and Mexico, according to the Department of Commerce. But that figure pales compared to the $463 billion in imports from China. The result is a U.S. trade deficit of $347 billion, the largest of any U.S. trading partner. MORE: Why trade continues to make headlines under Trump
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Yet it is not all one-sided from China's standpoint. China has used its trading surplus to create a massive manufacturing sector that has pulled hundreds of millions of Chinese from poverty and made them consumers who increasingly are interested in American goods and services.