US Exports to China Top $120 Billion in 2013, Says USCBC
U.S. exports to China topped $120 billion in 2013, making that country the third-largest export market for U.S. companies behind Canada and Mexico, said the U.S.-China Business Council (USCBC) in an annual report. More than 32 U.S. states exported more than $1 billion in manufactured products, chemicals, electronics, machinery and agricultural goods in 2013, according to the report.
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"US exports to China have grown faster than exports to any other major US trading partner,” USCBC President John Frisbie said in a press release. “USCBC estimates China to be a $300 billion market for American companies, counting US exports and in-country sales by American companies operating there.” But the U.S. still lags behind the European Union, South Korea and Japan in market share of exports to China, said the press release.
U.S. exporters still face a raft of non-tariff Chinese trade barriers, USCBC has said recently (see 14021214). Those barriers include discriminatory import licensing restrictions on chemicals and agricultural products, limitations on express delivery services, redundant local domestic testing requirements that require many imported goods to be domestic tested and certified despite already undergoing foreign equivalents, and discriminatory regulatory and reimbursement policies affecting medical products, according to USCBC.