Quick Answer: What Does The US Rely On China For?

Who is China’s biggest trading partner?

the United StatesAt $20.49 trillion, the United States boasts the largest economy in the world and is China’s largest trading partner.

Last year, the total value of bilateral trade between the two countries was $737.1 billion, with U.S.

imports from China valued at $557.9 billion and U.S.

exports to China valued at $179.3 billion..

What American products come from China?

The U.S. imports thousands of products from China ranging from TVs and cell phones to clothing and handbags to industrial chemicals and rare metals.

Does the world depend on China?

That shows China has become more self-reliant and less exposed to the rest of the world, the research found. … In contrast, the rest of the world has become more dependent on China, the report said. Countries are either trading more goods with China or receiving more investments from Beijing, McKinsey said.

What percentage of Walmart products are made in China?

In America, estimates say that Chinese suppliers make up 70-80 percent of Walmart’s merchandise, leaving less than 20 percent for American-made products.

What is China’s main export to the US?

Searchable List of China’s Most Valuable Export ProductsRankChina’s Export Product2019 Value (US$)1Phone system devices including smartphones$224,069,819,0002Computers, optical readers$148,463,426,0003Integrated circuits/microassemblies$102,187,884,0004Processed petroleum oils$38,345,208,0006 more rows•Dec 13, 2020

What countries rely on China?

List of largest trading partners of ChinaNo.Country / RegionImports1United States153.92European Union197.93Japan165.84Hong Kong73.117 more rows

What would happen if the US stopped trading with China?

If China stops buying goods from the US, it must be a heavy strike on the US economy, especially for its agricultural industry. … So if a 25 percent tariff applies, the U.S. soybean exports to China could drop by $1.4 billion to $7.7 billion and would result in a potential farm-level loss of 33 cents to $1.76 per bushel.

What food do we get from China?

Despite the rapid growth, less than 1 percent of the U.S. food supply comes from China. For a few specific items, like apple juice, garlic, canned mandarin oranges, fish, and shrimp, China is a major supplier.

Who is the US biggest trading partner?

U.S. trade with other nations is worth $4.9 trillion per year. China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports.

How much of our stuff comes from China?

U.S. goods imports from China totaled $451.7 billion in 2019, down 16.2% ($87.6 billion) from 2018, but up 52.4% from 2009. U.S. goods imports from China are up 342% from 2001 (pre-WTO accession). U.S. goods imports from China account for 18.1% of overall U.S. goods imports in 2019.

Who buys the most from China?

China’s Top Trading PartnersUnited States: US$418.6 billion (16.8% of China’s total exports)Hong Kong: $279.6 billion (11.2%)Japan: $143.2 billion (5.7%)South Korea: $111 billion (4.4%)Vietnam: $98 billion (3.9%)Germany: $79.7 billion (3.2%)India: $74.9 billion (3%)Netherlands: $73.9 billion (3%)More items…

What products do we rely on China for?

China’s Top ExportsRefined petroleum – $31.2 billion.Cotton – $13.7 billion.Plywood – $4.79 billion.Petroleum gas – $1.95 billion.Tea – $1.67 billion.