On Wednesday, April 9, U.S. President Donald Trump announced that tariffs on China would be increased to 125%, impacting all products imported from the Asian country. In response, Beijing also imposed reciprocal tariffs. Here’s what does the US export to China the most.
What does the US export to China the most?
After the implementation of the tariffs by Trump, China’s Ministry of Finance imposed an 84% tariff on all products imported from the U.S. In the past five years, U.S. exports to China have grown at an annualized rate of 2.3%, increasing from $137 billion in 2018 to $154 billion in 2023.
According to Statista data, in 2024, the U.S. exported $2,019.54 billion in goods, of which $2,585.97 billion went to China. But what does the US export to China the most? Here is the list of the top products exported to the Asian country:
- Soybeans: 9%
- Aircraft and engines: 8%
- Integrated circuits: 4%
- Pharmaceuticals: 4%
- Oil: 3%
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What does China export to the U.S.?
In 2024, China’s exports to the U.S. represented 14.7%. The top products exported were electronics, computers, toys, and batteries.
Why is Donald Trump imposing tariffs?
President Donald Trump has stated that tariffs are a key component of his economic strategy, as he seeks to promote manufacturing in the U.S., protect jobs, increase tax revenues, and stimulate economic growth.
Trump aims to revitalize and rebuild the U.S. manufacturing industry, which has lost many jobs over the past 40 years, largely due to the transfer of these jobs to countries with lower wages, such as Mexico or China. Additionally, the president believes that the U.S. is facing a significant trade deficit and that other nations are taking advantage of the opportunity to sell their products to U.S. consumers.
What tariffs has Donald Trump imposed?
Since returning to the White House for his second term as U.S. president, Donald Trump has signed executive orders to apply various tariffs to his trading partners. These include:
- 25% on all products from Mexico and Canada
- 10% on Canadian energy
- An additional 10% on Chinese products
- 25% on steel and aluminum imports
- 25% on all foreign-made cars and auto parts
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What are tariffs and how are they applied?
Tariffs are taxes applied to products imported from foreign nations. This tax, paid to the government, is the responsibility of the company that brings the foreign goods into the country. However, some companies may choose to pass on all or part of this cost to their customers.
How do Donald Trump’s tariffs affect people?
According to research from the Yale Budget Lab, with the implementation of tariffs, the prices of products such as food, clothing, and electronics would increase significantly, impacting the budgets of American families.
The research concluded that these tariffs could cost a middle-class household $3,800 per year, while lower-income households could see a 5.5% decline in their disposable income.
What free trade agreements does the U.S. have?
The United States has free trade agreements with several countries. Currently, it trades with over 160 countries under the World Trade Organization (WTO) rules and has free trade agreements with another 20 countries, including:
- United States-Mexico-Canada Agreement (USMCA) with Mexico and Canada
- KORUS FTA with South Korea
- AUSFTA with Australia
- US-Bahrain FTA
- US-Chile FTA
- US-Colombia FTA
- CAFTA-DR (Dominican Republic-Central America-U.S. FTA, which includes Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, the Dominican Republic, and the U.S.)
- US-Israel FTA
- US-Jordan FTA
- US-Morocco FTA
- US-Oman FTA
- US-Panama FTA
- US-Peru FTA
- US-Singapore FTA
