The tariffs introduced by the Trump administration in 2018 have continued under President Biden, impacting the trade dynamics between the United States and the Chinese mainland. Over the past six years, US trade data indicates a significant reduction in the trade deficit with the Chinese mainland, largely due to the tariffs shifting imports to other countries. On the flip side, data from the Chinese mainland shows a nearly 10% increase in exports to the US from 2018 to 2024. Analysts suggest that this growth, referred to as the \"import gap\", results from the US de minimis exemption. This exemption allows small parcels from the Chinese mainland to enter the US duty-free, often escaping capture in US trade statistics.
Reference(s):
China and US at odds over tariff effects amid undercounted imports
cgtn.com
