Is China taking advantage of China-U.S. trade?

BEIJING, Nov. 18, 2024 /PRNewswire/ — A news report by China.org.cn on China-U.S. trade:

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The stereotype that China has been taking advantage of the China-U.S. trade stems from the U.S.’s trade deficit with China.

Many parts and technology "made in China" actually contain added value from the global supply chain; while the U.S. uses the value of the end products as a calculation metric, it becomes a reason for the deficit exaggeration.

The truth is, by importing China’s quality products at a relatively low price in bulk, the U.S. can meet its domestic demand while cutting the cost of living for its residents, significantly reducing consumer costs and suppressing inflation. U.S. Secretary of the Treasury Yellen also publicly said that China represents a huge market for the U.S., creating more than 700 thousand jobs for the country. To sum up, the U.S. and China are both benefitting from bilateral trade.