The US-China Business Council (USCBC) is pleased to have commissioned this study by Oxford Economics on the overall impact of China on the US economy. During last year’s election campaign, the negative impact of trade with China, such as estimates of jobs lost, received considerable attention. In most cases, the presented data fails to provide a balanced assessment that incorporates the positive effect of the commercial relationship with China. Presenting only the negative impact and ignoring the jobs created, lower inflation, and other benefits of trade with China can lead to policies based on incomplete or misleading information. Oxford Economics’ study, through its analysis of the economic relationship with China, provides a sound basis for such a policy discussion.