China Trade
U.S.-China Trade and Economic Ties - US Department of State
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The United States and China - US Department of State
Trade and Development Agency Funds Six New Initiatives in ChinaProjects will open markets, protect intellectual property, aid developmentThe U.S. Trade and Development Agency (USTDA) will provide funding of more than $3 million to support three training programs and three project-specific grant agreements in China, according to a July 11 press release. (complete text) U.S., China Agree to Cooperate on Food Safety, USDA Chief Says [Read More]
China (03/05)
Total two-way trade between China and the U.S. grew from $33 billion in 1992 to over $230 billion in 2004. The United States is China’s second-largest trading partner, and China is now the third-largest trading partner for the United States (after Canada and Mexico). U.S. exports to China have been growing more rapidly than to any other market (up 28.4% in 2003 and 20% in 2004). U.S. imports from China grew 29%, with the U.S. trade deficit with China exceeding $162 billion in 2004. Some of the factors that influence the U.S. trade deficit with China include: A shift of low-end assembly industries to China from the newly industrialized economies (NIEs) in Asia. China has increasingly become the last link in a long chain of value-added production. Because U.S. trade data attributes the full value of a product to the final assembler, Chinese value-added gets over-counted. U.S. demand for labor-intensive goods exceeds domestic output. China's restrictive trade practices ... [Read More]
Study Documents Negative Impact of U.S. Trade Deficit with China - US Department of State
-- The rise in the United States' trade deficit with China from 1989 to 2003 caused displacement of production that supported 1.5 million U.S. jobs. The loss of jobs due to the growing trade deficit with China has more than doubled since it entered the WTO in 2001. ... Using a methodology that determines the number of jobs needed to produce exports and imports, the EPI study found that 1.5 million jobs were lost to lower-wage Chinese competition in the 14-year period between 1989 and 2003. During that time, the U.S. trade deficit with China rose twenty-fold, from $6.2 billion to $124 billion. It is expected to increase another 20 percent in 2004, to $150 billion. ... [Read More]
Trade and Economics - US Department of State
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The United States and China Archive - US Department of State
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Gutierrez Urges China To Speed Progress on Bilateral Trade Issues- U.S. Department Of State
We believe that great risk of enforcement of our trade laws is important. At the same time the administration doesn't believe that new tariffs and other barriers are the right answer to reduce trade frictions. New economic walls between our citizens harm everyone. We believe that the best international economic system is one based on free trade, free flows of capital and market forces. President Bush is committed to strengthening and expanding the tie between China and the United States. We look forward to building on an already strong relationship as defined by candor, cooperation and mutual respect. And we think that could be done in the spirit of partnership. And I think it will be a great opportunity to show that we are interested in the future of free trade and that we are truly interested in the commercial relations among the two countries. ... [Read More]
Security - US Department of State
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