US Imports from China - On January 15, 2020, the United States and China signed an economic and trade agreement, known as the “Phase One Agreement.” This Agreement included commitments from China in the areas of intellectual property and technology transfer. It also secured improved market access for the agriculture and financial services sectors, along with China’s commitment to increase its purchases of U.S. goods and services. USTR
China was the United States' largest supplier of goods imports in 2020. U.S. goods imports from China totaled $434.7 billion in 2020, down 3.6 percent ($16.0 billion) from 2019, but up 19 percent from 2010. U.S. imports from are up 325 percent from 2001 (pre-WTO accession). U.S. imports from China account for 18.6 percent of overall U.S. imports in 2020.
The top import categories (2-digit HS) in 2020 were: electrical machinery ($111 billion), machinery ($97 billion), toys and sports equipment ($26 billion), furniture and bedding ($23 billion), and miscellaneous textile articles ($21 billion).
U.S. total imports of agricultural products from China totaled $3.8 billion in 2020, our 7th largest supplier of agricultural imports. Leading categories include: processed fruit and vegetables ($896 million), food preparations ($327 million), dog and cat food ($202 million), fruit and vegetable juices ($198 million), and other livestock products ($193 million).
U.S. imports of services from China were an estimated $15.6 billion in 2020, 21.2 percent ($4.2 billion) less than 2019, but 36 percent greater than 2010 levels. It was up roughly 370.9 percent from 2001 (pre-WTO accession). Leading services imports from China to the U.S. were in the transportation, research and development, and professional and management services sectors. Trade Balance USTR
The U.S. goods trade deficit with China was $310.3 billion in 2020, a 9.9 percent decrease ($34.0 billion) over 2019.
The United States has a services trade surplus of an estimated $24.8 billion with China in 2020, down 37.3 percent from 2019.
Investment - U.S. foreign direct investment (FDI) in China (stock) was $123.9 billion in 2020, a 9.4 percent increase from 2019. U.S. direct investment in China is led by manufacturing, wholesale trade, and finance and insurance.
China's FDI in the United States (stock) was $38.0 billion in 2020, down 4.2 percent from 2019. China's reported direct investment in the U.S. is led by wholesale trade, manufacturing, and information services.
Sales of services in China by majority U.S.-owned affiliates were $59.6 billion in 2018 (latest data available), while sales of services in the United States by majority China-owned firms were $20.6 billion.