[20190623]IF10030_中美贸易问题.pdf

https:/crsreports.congress.gov Updated June 23, 2019U.S.-China Trade IssuesBackground The U.S.-China trade and economic relationship has expanded significantly over the past three decades. In 2018, China was the United States largest U.S. merchandise trading partner (total trade at $660 billion), third-largest export market ($120 billion), and largest source of imports ($540 billion). China is also the largest foreign holder of U.S. Treasury securities (at $1.1 trillion as of April 2019 2018). However, tensions have grown sharply in recent years over a number of economic and trade issues. Key U.S. Issues The Trade Deficit. President Trump has complained about the U.S. bilateral trade imbalances with various countries, including China. The U.S. merchandise trade deficit with China in 2018 was $419 billion (up from $376 billion in 2017), and is by far the largest U.S. bilateral trade imbalance. Some U.S. policymakers view large U.S. bilateral trade deficits as an indicator of an “unfair” trade relationship. Others, however, view conventional bilateral trade deficit data as misleading, given the growth of global supply chains used by multinational firms. Products may be invented or d