PIIE
•Business
Business & Economics
88% Informative
US-China trade war of 201819 devastated US exports to China, which cratered during President Donald Trump’s trade war.
China is now shifting some purchases of foreign goods away from the United States.
US agriculture gains were not the result of increased shipments but simply higher prices and concerns over global food insecurity.
US sales of manufacturing goods to China dropped by 3 percent from 2021 and are now, once again, below pre-trade war levels.
US semiconductors and semiconductor manufacturing equipment had been one of the few bright spots for manufacturing over 202021, even exceeding expectations under the phase one agreement.
Autos and aircraft are additional sectors showing little signs of recovery in 2022.
US energy exports to China plunged, as trade routes realigned with Russia’s war on Ukraine.
US exports of LNG and coal to China fell sharply, with exports of crude oil up only slightly, despite much higher prices for all three commodities.
China shifted its energy sourcing toward Russia, Malaysia, Qatar (LNG), and Mongolia (coal) In 2022, China also mined 11 percent more coal than the year before, its largest annual increase since 2005.
US services exports to China in 2022 were only 7 percent higher than 2021.
VR Score
92
Informative language
93
Neutral language
47
Article tone
formal
Language
English
Language complexity
49
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
18
Source diversity
14
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