The proportion of imports from China by the United States has dropped to a new 20-year low, and Vietnam and Thailand have become new growth points for semiconductors
According to the Wall Street Journal, the deepening confrontation between China and the United States is eroding trade relations between the two economies, with the proportion of goods from China in US imports being the lowest in 20 years.
The Wall Street Journal found through analysis of trade data released by the US Census Bureau last week that American buyers are avoiding China and turning to Mexico, Europe, and other regions in Asia to purchase various goods from computer chips, smartphones, to clothing. From January to June 2023, the proportion of Chinese products to imported goods from the United States was only 13.3%, far below the peak of 21.6% for the entire year of 2017, setting a new low since 2003 (the proportion for that year was 12.1%).
If we add up the dollar value of exports and imports, Mexico is now the largest trading partner of the United States, followed by Canada, and China ranks third. This shift reflects the recent decline in the share of US exports to China and the long-term decline in China's import share in the United States. In the first half of 2023, China accounted for 10.9% of the total trade volume of the United States. Mexico is the highest at 15.7%, followed closely by Canada at 15.4%.
According to the report, in the first 12 months of June this year, imports of Chinese made electronic products from the United States decreased by $13.4 billion compared to the same period last year, and China's share of electronic product imports decreased from 32% to 27.9%.
The Wall Street Journal found through analysis of trade data released by the US Census Bureau last week that American buyers are avoiding China and turning to Mexico, Europe, and other regions in Asia to purchase various goods from computer chips, smartphones, to clothing. From January to June 2023, the proportion of Chinese products to imported goods from the United States was only 13.3%, far below the peak of 21.6% for the entire year of 2017, setting a new low since 2003 (the proportion for that year was 12.1%).
If we add up the dollar value of exports and imports, Mexico is now the largest trading partner of the United States, followed by Canada, and China ranks third. This shift reflects the recent decline in the share of US exports to China and the long-term decline in China's import share in the United States. In the first half of 2023, China accounted for 10.9% of the total trade volume of the United States. Mexico is the highest at 15.7%, followed closely by Canada at 15.4%.
According to the report, in the first 12 months of June this year, imports of Chinese made electronic products from the United States decreased by $13.4 billion compared to the same period last year, and China's share of electronic product imports decreased from 32% to 27.9%.
From the perspective of smartphones, most of the smartphones imported by the United States come from China, but according to the latest data, China's share has decreased to 75.7% in the 12 months to June. This has decreased compared to the recent peaks of over 80%. Part of the reason is that smartphone manufacturers, especially Apple, are gradually moving their supply chain out of China.
In addition, in the fiscal year ending in June, India's share in US smartphone imports reached 5.3%, higher than the 1.8% in the first 12 months of December last year.
In addition, in the fiscal year ending in June, India's share in US smartphone imports reached 5.3%, higher than the 1.8% in the first 12 months of December last year.
In terms of semiconductors, Vietnam and Thailand are becoming growth points for the import of chips from the United States. They are becoming centers for post packaging testing in chip manufacturing, where raw silicon chips are tested and then packaged - China also holds a significant share in this field.
As the United States and its allies strengthen policies restricting the sales and production of advanced chips in China, companies are increasing their production in the United States, Europe, and other Asian countries.
As the United States and its allies strengthen policies restricting the sales and production of advanced chips in China, companies are increasing their production in the United States, Europe, and other Asian countries.