US Exports, Imports, and Goods Deficit With China All on the Rise
In April 2018, the US goods deficit with China rose 1.2 percent year-on-year to $27.9 billion, as both US exports and imports from China increased, according to the latest report from the US-China Commission.
US goods imports from China reached $38.2 billion in April, a two-percent increase year-on-year. US goods exports to China increased 4.4 percent year-on-year, reaching $10.3 billion.
In particular, US exports of primary metal manufacturing, petroleum and coal products, forestry products, and oil and gas increased by 99 percent, 60 percent, 43 percent, and 15 percent year-on-year, respectively. Chinese exports of petroleum and coal products to the United States increased by 483 percent year-on-year, after underperforming last April. Chinese exports of beverages and tobacco and chemical products to the United States increased 46 percent and 23 percent year-on-year, respectively.
In the first four months of 2018, the US goods deficit with China reached $119 billion, an 11.8 percent increase year-on-year with US exports to China rising 7.5 percent year-on-year and US imports from China increasing 10.6 percent year-on-year.