U.S.–China goods trade and job displacement, 2001–2018
| Change ($billions) | Percent change | ||||||
|---|---|---|---|---|---|---|---|
| 2001 | 2008 | 2018 | 2001–2018 | 2008–2018 | 2001–2018 | 2008–2018 | |
| U.S. goods trade with China ($billions, nominal) | |||||||
| U.S. total exports* | $19.2 | $71.5 | $120.1 | $100.9 | $48.7 | 524.6% | 68.1% |
| U.S. general imports | $102.3 | $337.8 | $539.2 | $437.4 | $201.9 | 427.6% | 59.8% |
| U.S. trade balance | ‑$83.0 | ‑$266.3 | -$419.5 | -$336.5 | -$153.2 | 405.2% | 57.5% |
| Average annual change in the trade balance | -$19.8 | -$15.3 | 10.0% | ||||
| Change (thousands of jobs) | Percent change | ||||||
| U.S. trade-related jobs supported and displaced (thousands of jobs) | |||||||
| U.S. total exports—jobs supported | 175.8 | 561.9 | 885.9 | 710.1 | 324.0 | 403.9% | 57.7% |
| U.S. general imports—jobs displaced | 1,132.5 | 3,548.9 | 5,547.2 | 4,414.8 | 1,998.4 | 389.8% | 56.3% |
| U.S. trade deficit—net jobs displaced | 956.7 | 2,987.0 | 4,661.4 | 3,704.7 | 1,674.3 | 387.3% | 56.1% |
| Average annual change in net jobs displaced | 217.9 | 167.4 | 9.8% | ||||
* Total exports as reported by the U.S. International Trade Commission include re-exports. The employment estimates shown here are based on total exports.
Source: Authors’ analysis of U.S. Census Bureau American Community Survey data, Bureau of Labor Statistics Employment Projections program data, and U.S. International Trade Commission Interactive Tariff and Trade DataWeb database. Adapted from Rob Scott and Zane Mokhiber, Growing China Trade Deficits Cost 3.7 Million American Jobs between 2001 and 2018, Economic Policy Institute, forthcoming.