$355,301,700,000: U.S. Trade Deficit With China Tops $300 Billion for 10th Straight Year

By Terence P. Jeffrey | February 8, 2022 | 9:31am EST
Then-Vice President Joe Biden with Chinese President Xi Jinping in Beijing, China, Dec. 4, 2013. (Photo by Lintao Zhang/Getty Images)
Then-Vice President Joe Biden with Chinese President Xi Jinping in Beijing, China, Dec. 4, 2013. (Photo by Lintao Zhang/Getty Images)

(CNSNews.com) - The United States ran a $355,301,700,000 merchandise trade deficit with the People’s Republic of China in 2021, marking the tenth straight year the U.S. trade deficit with China has topped $300 billion, according to data released today by the Census Bureau.

In every year since 2012, the U.S. merchandise trade deficit with China has exceeded $300 billion, according to the Census Bureau, hitting an all-time high of $418,232,900,000 in 2018.

 
 

During 2021, the United States exported $151,065,200,000 in products to China, but then imported $506,366,900,000 in products from China, resulting in $657,432,100,000 in total trade between the two countries--and a $355,301,700,000 deficit for the United States.

(Census Bureau Chart)
(Census Bureau Chart)

The United States actually engaged in more trade with Canada and Mexico—who were the nation’s two top trading partners  in 2021—but ended up with much smaller trade deficits with those two countries.

Total trade with Canada hit $664,770,600,000 in 2021, according to the Census Bureau. That included $307,610,800,000 in exports to Canada and $357,159,800,000 in imports, resulting in a deficit of $49,549,000,000.

(Census Bureau Chart)
(Census Bureau Chart)

Total trade with Mexico hit $661,164,400,000 in. 2021, according to the Census Bureau. That included $276,458,900,000 in exports and $384,705,500,000 in imports, resulting in a deficit of $108,246,600,000.

(Census Bureau Chart)
(Census Bureau Chart)

The top two products that the United States imported from China, according to the Census Bureau data, were “cell phones and other household goods,” and “computers.” The United States purchased $75,184,200,081 in “cell phones and other household goods” from China in 2021, and $59,206,556,881 in computers. The United States also purchased $17,818,156,850 in “computer accessories” from China.

The top two products the United States exported to China in 2021, according to the Census Bureau data, were soybeans and semiconductors. The United States exported $14,101,179,144 in soybeans to China and $13,426,412,957 in semiconductors.

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