Beyond the United States’ immediate neighbors and NAFTA partners, Mexico and Canada, China is its biggest export market.
Between 2008 and 2017, US exports to China grew 86% — more than four times the 21% in US export growth to the rest of the world.
But with the US-China trade war now overshadowing trade relations between the two countries and US exports to China, the US is facing the threat of losing what has, until now, been its fastest-growing export market abroad.
From January to August of 2019, US exports to China reached $70.2 billion — a 16.2% year-over-year drop from $83.7 billion over the same period in 2018.
Amidst the trade war, importers and exporters are facing turbulent times for trade between the two economic powerhouses. And some are getting hit harder than others.
States that have traditionally been very dependent on exports to China, such as Texas and California, are the most vulnerable and are expected to be the most affected.
Using data from the US Chamber of Commerce, the Bureau of Economic Analysis, and the International Trade Commission, howmuch.net put together the expected economic cost of the trade war on US states. These are the ten most affected states:
In this infographic, we present to you a visual look at the top US exports to China, including its evolution over the past few years and top exported products.
"The problem with these costs is that they’re often impossible to predict and are thus hardly ever considered when analyzing and comparing ocean freight rates"
Klaus Lydsal, vice president of operations at iContainers