Background:
- President Donald Trump announced additional tariffs on imports from China, Canada, and Mexico, citing a national emergency.
- China retaliated by imposing counter tariffs in response.
- The U.S. imported goods worth $17,000 billion between 2018 and 2023.
Relevance: GS 2(International Relations)
China’s Share in U.S. Imports (2018-2023)
- China’s Contribution:
- Accounted for 18% of U.S. imported services between 2018 and 2023, the highest among the countries.
- China contributed the highest share in 8 out of 15 top U.S. imports.
- Products with the highest Chinese share:
- Electrical Machinery and Equipment (15% of total U.S. imports)
- Nuclear Machinery and Appliances (9%)
- Iron or Steel (20-30%)
- Plastics (20-30%)
- Clothing (20-30%)
- Furniture (~40%)
- Toys (~80%)
- Other Key Imports from China:
- China was the second largest contributor to U.S. imports in measuring instruments, organic chemicals, and rubber.
Other Key Contributors
- Mexico:
- Contributed the highest share in imported vehicles and measuring instruments.
- Also ranked among the top three exporters for several products, including electrical machinery, nuclear machinery, furniture, iron or steel, and rubber.
- Canada:
- Contributed nearly 50% of the mineral imports to the U.S.
- Also contributed significantly to U.S. imports of plastic, vehicles, and iron or steel.
Conclusion
- China remains the largest contributor to the U.S. import basket, particularly in electrical machinery, nuclear machinery, and consumer goods like toys and furniture.
- The U.S. maintains significant import relations with Mexico and Canada, with each country playing a key role in specific sectors.
- The ongoing tariff wars could impact these trade dynamics, especially with China, given its substantial share in critical imports.
