US-China Trade Shrinks Amid Stagnation in US-Worldwide Trade

Key Takeaways

• The latest economic and trade data point to a continued slowdown for US-China trade.
• US-China bilateral trade in goods decreased significantly year over year in Q1 and again in April despite US-worldwide trade remaining more or less the same.
• While US goods exports to China have enjoyed a modest increase following China’s removal of zero-COVID restrictions, imports from China have decreased substantially.