Trade in Goods with China Drops in March; Overall Deficit Still Lower Than 2012, U.S. China Commission Says
The U.S. trade deficit with goods to China fell by $5.5 billion in March, reflecting a drop in all top categories of U.S. imports from China, according to recent data from the U.S. China Economic and Security Review Commission. March exports to China were 4 percent lower than one year ago, while imports declined 13 percent from last year, the Commission said in its monthly review of U.S.-China trade data. The steepest import declines were in miscellaneous manufactured commodities, and computer and electronic products. On the export side, agricultural products and chemicals declined, the former by more than 34 percent compared to March 2012. Exports in transportation equipment, machinery and computer and electronic products all increased from last year.
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The Commission is also holding a hearing May 9 on Chinese investment in the U.S., including the benefits and drawbacks of any investment, and U.S. mechanisms that exist to monitor and screen such investments. China, one of the world's largest recipients of foreign direct investment, is becoming a FDI power "in its own right," the Commission said. The country's outbound FDI set a record in 2012, reaching $77.2 billion, according to official statistics.