United States and China have come together towards achieving a stronger bond and economic stability (The White House, 2015). As stated by, the two nations have shot the first shot on what could be referred to as “the largest trade war in economic history” (Bloomberg News, 2018). According to Meltzer and Shenai, (2019), About 10-25% tariffs have been felt on about $250 Billion U.s imports from China. There has been an increase in U.S -China trade from $125 billion to over $700 Billion between the years 2001 to 2007 (Meltzer and Shenai, 2019). In 2015, a total of about $165 was purchased by China from United States (Economics, 2017). As stated by the authors, this is estimated to be about 7.3% of the total exports from the U.S (Economics, 2017). Several financial and business services are also exported from the U.S. The total amount of these products in the years 2014 t0 2015 include $6.7 Billion and $7.1 Billion in 2015 (Economics, 2017). According to Economics (2017), With regard to these results, it is estimated that the total amount will rise above $250 Billion. China is regarded as the world’s third-largest destination of U.S exported products and services with the U.s and Chinese investment leading to about 2.6 million U.S jobs and a total of $216 billion of GDP (Economics, 2017).
Bloomberg News. (2018, July 6). The U.S.-China Trade Relationship: A Dispute in Five Charts. Retrieved June 18, 2019, from https://www.bloomberg.com/news/articles/2018-07-06/the-u-s-china-trade-relationship-a-dispute-in-five-charts
Economics, O. (2017). Understanding the US-China Trade Relationship. US-China Business Council. Recuperado de. https://www.uschina.org/reports/understanding-us-china-trade-relationship
Meltzer, J. P., & Shenai, N. (2019). The US-China Economic Relationship: A Comprehensive Approach. Available at SSRN 3357900.
The White House. (2015, September 25). FACT SHEET: U.S.-China Economic Relations. Retrieved June 18, 2019, from https://obamawhitehouse.archives.gov/the-press-office/2015/09/25/fact-sheet-us-china-economic-relations