Yes, but when CNese products got 25% tariff, then those products can't export well anymore.
Imagine what will happen when US slap 100% tariff on all CNese products like Trump just said.
View attachment 760212
View attachment 760213
View attachment 760214
Semiconductors are a prime example of an item targeted early in the trade war that has been on the decline from China, but seen strong growth from Vietnam, Taiwan and Malaysia.
Of the Chinese goods hit by tariffs, the biggest impact has been in telecom equipment and computer accessories, where imports are down about $15 billion each from their peaks in 2018, the Journal analysis found.
Tariff revenue paid to the U.S. Treasury by importers has dropped as a consequence. The U.S. collected $66 billion from tariffs in the 12 months ended in March, down from a peak of $76 billion in February 2020.
Imports of non-tariffed items from China have begun to pick up in recent months, after a global downturn in trade triggered by the Covid-19 pandemic. Even so, imports from China overall were at $472 billion for the 12 months ended March 31, compared to a peak of $539 billion in 2018.
“The trade war has had a more enduring negative impact [on Chinese imports] than the pandemic,” said Adam Slater, the lead economist for Oxford Economics. “The effects of the pandemic are starting to wear off, but the longer-term impact of the trade war remains.”
U.S. tariffs have led to a sharp decline in imports from China and significant changes in the types of goods Americans buy from China, new data show, with purchases of furniture, telecommunications gear, apparel and other goods shifting to other countries.
www.wsj.com