![]() ![]() "The more frequent use of export controls over the last few years has led Chinese customers to deprioritize American products when there are viable domestic and third-country suppliers," the report said. ![]() The USCBC report noted that US export controls on advanced semiconductors and semiconductor manufacturing equipment, which took effect in October 2022, inhibited exports to China. The impact of export control regimes, frequently used by the US, has been particularly felt in the semiconductor sector. In 2022, US goods exports to China increased 1.2 percent year-on-year, led by oilseeds, grains and pharmaceuticals, which saw double-digit growth from the previous year, but the semiconductor and energy sectors saw double-digit contractions, according to the report. In contrast, tourism-dependent states, such as Hawaii, saw the number of jobs supported by exports to China shrink by 69 percent, a loss of an estimated 1,900 jobs, according to the report. ![]() The report includes detailed information on exports to China from every US state and congressional district, and the resulting job creation.įor example, it listed California as the top winner in terms of export-supported jobs, with more than 132,400 in 2021, an increase of 15 percent year-on-year. The USCBC's report noted that China is among the top five markets for all but three states in the US, and that its purchases supported nearly 500,000 more US jobs than the next highest country, the United Kingdom. "As policymakers in the United States and China each consider decisions related to the future of the bilateral relationship, it is important that they take into account the stabilizing and beneficial role of trade for both countries," he said.įigures released by the US Department of Commerce in early February also showed that China maintained its position as the third-largest trading partner of the US for goods in 2022, accounting for 13 percent of total trade, following Canada and Mexico, at 14.9 percent and 14.7 percent. "Every state and congressional district has a unique economic and trade relationship with China," Allen said. USCBC President Craig Allen said the report on US exports to China again shows that China's purchases support US businesses and livelihoods, including farmers and ranchers in the heartland, entrepreneurs and innovators in and beyond Silicon Valley, and leaders in the semiconductor sector and manufacturers across the country. During that period, US goods exports to China increased 22 percent year-on-year, and services exports increased slightly, creating an overall healthy environment for export-supported employment in the US. The report noted that 2021 is the latest year for which the employment data are available. In 2021, an estimated 1.06 million US jobs were supported by the nation's exports of goods and services to China, ranking the country alongside Canada and Mexico in the 1-million-job provider club, according to the US Exports to China report released last week by the US-China Business Council. Ĭhina is the only country outside of the Americas whose purchases of goods and services from the United States support more than 1 million jobs in the world's largest economy, which is part of the reason policymakers should value the "stabilizing and beneficial" role of trade for both countries, according to the head of a US commerce association. This aerial photo taken on Apshows a container ship sailing at Tianjin Port in north China's Tianjin. ![]()
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