China’s share of US imports drops to 7.1%, lowest since 2001

[China US Trade]
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* China's share of US imports fell to 7.1% in May, the lowest level since 2001, according to trade data published by the US Census Bureau on Thursday.
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That’s 4.3 percentage points lower than the same period last year and reflects a longer-term decline that began during President Donald Trump’s first term.

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China’s share of imports was as high as 14.8% in September 2024, before Trump returned to office and implemented steep new tariffs on imports from the country.

* Meanwhile, Taiwan and Vietnam each accounted for nearly 6% of US goods imports in May, up from roughly 3% in 2023.

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