The US-China Business Council (USCBC), comprised of 200 American companies employing millions of Americans throughout the United States, is pleased to submit its views for your investigation of the US trade deficit with China.
China has long been an essential market for the American economy and is a market that American companies continue to name as a priority for their global operations and competitiveness. By USCBC’s calculations, China is at least a $400 billion market for the American economy, though it would be even bigger if China improved market access for American goods and services. The goods and services that US companies do sell to China support jobs and economic activity across the United States. China is also a significant investor in the United States, with more than $100 billion in direct investment last year. Taken together, the commercial relationship with China is an important and growing component of US economic and job growth, supporting roughly 2.6 million US jobs and contributing $216 billion to US GDP.
Read the full submission here.