Title: Introduction - U.S. Trade with China: Selected Resources - Research Guides at Library of Congress
Headings: U.S. Trade with China: Selected Resources
U.S. Trade with China: Selected Resources
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Introduction

Content: This gave a start to a rapid growth of trade between the two nations: from $4 billion (exports and imports) that year to over $600 billion in 2017. Until February 2019 China was the largest trade partner of the United States, and currently is in third place after Canada and Mexico while it remains the biggest source of imports. China’s exports to the U.S. over the decades have changed from low-value, labor-intensive products to more capital intensive goods. It is now one of the U.S.’s major suppliers of advanced technology products and global supply chains involving China and the U.S. are complex. Moreover, China is the largest holder of U.S. Treasury securities. The United States and China have several unresolved issues surrounding the bilateral trade between the two countries. The trade deficit between China and U.S. has swelled immensely as the volume of imports from China grew much more rapidly than U.S. exports to China. This large trade deficit has been an issue of concern for economists and policymakers alike. Some claim it as an indicator of Chinese unfair trade practices, while others credit the imbalance to the strength of the Chinese economy and production systems heavily influenced by state interventions.