
Led by a decline in agricultural goods and semiconductor shipments, the volume of American goods exported to China fell in 2023 amid continuing tensions between the world’s two largest economies, according to a report released on Tuesday. The United States exported a total of US$144.9 billion in goods to China last year, marking a 4.3 per cent decline from a year earlier when the figure reached a record-high US$151.4 billion, said the report by the US-China Business Council.While US exports to most other foreign economies dipped in 2023 owing to geopolitical tensions like the war in Ukraine, stunted economic growth in China and government-level challenges also weighed on the bilateral trade relationship, the USCBC said, separate from long-standing barriers such as tariffs.“It is important for us to remind US lawmakers and those in influential positions that every state and congressional district in the US maintains its own economic and trade relationship with China,” said Craig Allen, president of the non-profit group representing more than 270 American companies.“Changes in US-China trade policy should be considered very carefully.”“Trade between the US and China also contributes to geopolitical stability and must be factored into policy decisions related to the future of the bilateral relationship,” he added.In 2023, China was the third-largest goods export market for the US, trailing only Canada and Mexico. Also last year, the Asian country was dethroned by Mexico as the top source of US imports after 17 years.and grains remained America’s top export to China last year, despite plunging US$7 billion from 2022, according to the report.