US-China Business Council: US merchandise exports to China will increase by 21.3% in 2021, reaching a record high

　　China News Agency, Washington, April 5 (Reporter Chen Mengtong) The US-China Business Council released a report in Washington on the 5th, saying that in 2021, the total US merchandise exports to China will reach 149.2 billion US dollars, a year-on-year increase of 21.3%.

　　"After hitting a trough in 2019 due to tariff escalation, U.S. merchandise exports to China maintained their growth momentum for the second year in a row." The report pointed out that the 2021 merchandise export data to China also hit a record high.

China continues to be the third largest U.S. merchandise export market.

　　Regarding the reasons why U.S. exports of goods to China remain strong under the dual pressures of the epidemic and tariffs, Craig Allen, president of the U.S.-China Business Council, told China News Agency that this is mainly due to two aspects. First, the U.S. Domestic tariff exemption procedures in corresponding fields, and second, China's economy will continue to maintain a good momentum of development in 2021.

　　The structure of U.S. merchandise exports to China continued the trend in 2020, with rapeseed and grains ($21.9 billion), semiconductors and components ($14.1 billion), and oil and gas ($12 billion) still ranked among U.S. merchandise exports to China in 2021 the top three.

　　Exports of semiconductors and components rose by $2.1 billion to $14.1 billion last year amid intensifying U.S.-China tech competition, the report noted.

Among them, more than half of US chip exports to China come from Oregon.

　　The report also counts U.S. service exports to China in 2020 and the impact of overall trade with China on the U.S. job market in 2020.

　　The report pointed out that U.S. service export data to China showed the severe impact of the new crown epidemic on the tourism and higher education industries.

In 2020, U.S. service exports to China fell by 32.7% year-on-year to $37.3 billion.

　　From 2019 to 2020, U.S. exports of services related to personal travel and business travel to China plummeted 90 percent, the report said.

U.S. education exports to China, including tuition and other educational spending paid by Chinese students to U.S. universities, fell by more than 19%.

　　The data also shows that in 2020, all 50 U.S. states exported goods and services to China and created more than 858,000 jobs.

　　"We have seen a record number of China-related bills in the U.S. Congress, and the overall U.S. political attitude toward China has become increasingly negative. This has increased uncertainty about the direction of U.S.-China relations," Allen pointed out. Trade with China helps U.S. industries remain profitable and competitive. Trade with China also creates a large number of U.S. jobs.” (End)