USCBC in the News
But there is that business aspect which undercuts our perceptions of reality in many sobering ways. For instance, according to a report by the US-China Business Council, China is South Dakota’s top market for exported goods, most of which is agricultural in nature. In 2017, this state exported $804 million in goods to China, which was enough to support 9,600 jobs here. Amid the tariff wars during President Donald Trumps’ tenure, South Dakota lost $370 million in exports intended for China, according to...
Craig Allen, president of the US-China Business Council and a former US official, said Li sought to level the playing field for foreign businesses, pointing to the speed with which US carmaker Tesla was able to get its Shanghai factory there operational in 2019. "Clearly nothing got in the way once a decision was made. There was a clarity of a kind in his decision making, an authority, and that really helps," said Allen, describing Li as comfortable in his own skin.
Completely unmentioned were all the benefits of trade with China. The US-China Business Council notes: “American companies exported $192 billion in goods and services to China in 2021, constituting 7.5 percent of US exports … Exports to China support over 1 million US jobs.” Meanwhile, cheap Chinese exports have fueled US prosperity — and, until recently, with low inflation.