1、US Exports to ChinaGoods and Services Exports to China and the Jobs TheySupport,by State and Congressional District 2024US-China Business Council US Exports to China 1 Executive Summary This report explores the latest comprehensive data available for exports of both US goods(2023)and services(2022)t
2、o China as well as for the jobs they support.China is a leading market for both goods and services exports.China was the United States third-largest goods export market in 2023 and sixth-largest services export market in 2022.When it comes to combined goods and services exports,China was the top exp
3、ort market for three states,in the top three markets for 32 states,and in the top five markets for all but seven states in 2022.Jobs supported by exports to China outnumber those supported by the next two Asian markets combined.Agriculture and livestock exports to China support more US jobs than any
4、 other sector by a wide margin.After reaching a record high the year before,goods exports to China dropped by 4.3 percent in 2023.Stunted economic growth in China,Russias war in Ukraine,and challenges in the US-China government-to-government relationshipin addition to long-standing barriers,such as
5、tariffsare weighing on bilateral trade.Geopolitical tensions and broader economic slowdowns around the world have also led to declines in exports to other leading markets.Oilseeds and grains remain the United States top export to China despite falling$7 billion.Challenges in this sector will worsen
6、if other producers continue to become more competitive or if these products are targeted in a future tariff spat.Exports of semiconductors and their components have also dropped by several billion dollars.Since peaking in 2021,those exports have fallen by 52 percent.Oregons exports comprise the bulk