Despite the tension between the US and China, trade between the countries reached a record last year
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Trade between the U.S. and China reached record levels last year, even as their diplomatic relations continue to deteriorate.
About this informs BBC.
According to official data, in 2022, imports and exports between the two countries together amounted to 690.6 billion dollars.
The data show that US imports from China rose to $536.8 billion last year as American buyers spent more on Chinese-made goods, including toys and mobile phones. During the same period, American exports to China increased to $153.8 billion.
While some of the increase in trade between the two countries is due to the rising cost of living, the numbers also indicate how dependent the US and China are on each other, even after years of trade conflict between them.
The world’s two largest economies have effectively been in a trade war since 2018, when then-US President Donald Trump began imposing tariffs and other restrictions against China.
After decades of rising Chinese imports, Trump began imposing tariffs on more than $300 billion worth of Chinese goods. In response, China introduced tariffs on imports of American goods worth about 100 billion dollars.
Most of these measures remain in place two and a half years after Joe Biden became president. At the same time, the United States is tightening restrictions on technological exports to China.
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