Goods trade between the United States and China hit a record high in 2022, indicating close economic ties between the two economies despite ongoing disputes in the high-tech field.
Figures released by the US Commerce Department on Tuesday show that trade, excluding services, stood at 690.5 billion dollars in 2022.
That's up about 5 percent from the previous year. It also exceeded a record set in 2018 of 658.7 billion dollars.
US exports to China rose about 1 percent to 153.8 billion dollars on brisk grain exports.
US imports from China rose about 6 percent to 536.7 billion dollars, partly due to an increase in imports of toys and other plastic products.
The US administration of President Joe Biden has tightened regulations on US exports of semiconductor-related products to China.
Such measures have heightened tensions between the two nations in the high-tech field.
Disputes remain, although the latest figures clearly show that economic ties between the two are strong.
Figures released by the US Commerce Department on Tuesday show that trade, excluding services, stood at 690.5 billion dollars in 2022.
That's up about 5 percent from the previous year. It also exceeded a record set in 2018 of 658.7 billion dollars.
US exports to China rose about 1 percent to 153.8 billion dollars on brisk grain exports.
US imports from China rose about 6 percent to 536.7 billion dollars, partly due to an increase in imports of toys and other plastic products.
The US administration of President Joe Biden has tightened regulations on US exports of semiconductor-related products to China.
Such measures have heightened tensions between the two nations in the high-tech field.
Disputes remain, although the latest figures clearly show that economic ties between the two are strong.
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Summary
U.S.-China goods trade reached a record high of $690.5 billion in 2022, increasing by 5% over the previous year. The rise was driven by an increase in US grain exports and imports of plastic products from China. Despite ongoing disputes in the high-tech field, tightened regulations on U.S.
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ID: 1a64b3c1-9ece-4fe2-a9c8-f8822674002b
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230208_18/
Date: Feb. 8, 2023
Created: 2023/02/08 18:07
Updated: 2025/12/09 07:42
Last Read: 2023/02/08 19:45