World merchandise trade volume is expected to grow 2.6% in 2024 and 3...
2024-04-23 15 英文报告下载
China is a leading market for both goods and services exports. China was the United States’ thirdlargest goods export market in 2023 and sixth-largest services export market in 2022. When it comes to combined goods and services exports, China was the top export market for three states, in the top three markets for 32 states, and in the top five markets for all but seven states in 2022. Jobs supported by exports to China outnumber those supported by the next two Asian markets combined. Agriculture and livestock exports to China support more US jobs than any other sector by a wide margin. After reaching a record high the year before, goods exports to China dropped by 4.3 percent in 2023. Stunted economic growth in China, Russia’s war in Ukraine, and challenges in the US-China governmentto-government relationship—in addition to longstanding barriers, such as tariffs—are weighing on bilateral trade. Geopolitical tensions and broader economic slowdowns around the world have also led to declines in exports to other leading markets. Oilseeds and grains remain the United States’ top export to China despite falling $7 billion. Challenges in this sector will worsen if other producers continue to become more competitive or if these products are targeted in a future tariff spat.
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