Chinese-American Trade 4/1/17

Article: ""The silk-silver axis"   

 China accounts for two-thirds of the US trade deficit but… global supply chains mean that much of what is “made in China” is actually made up of components manufactured elsewhere. The US has filed 16 formal complaints against China with the WTO since 2008 (ex: China places a 25% tariff on all cars coming from the US). But, China thinks the US has also behaved unfairly - ex: the US refuses to grant China “market economy” status which would eliminate most tariffs on Chinese-made products coming to America. Trump wants a 45% (!) tariff on all Chinese imports. And China has more to lose in a US-China trade war - Chinese exports to the US count for 4% of Chinese GDP whereas US exports to China only account for 1% of our GDP.