TKL: Chinese trade with the US is declining. US imports from China have declined by 8 percentage points since 2018, to 13.5% of total imports. This is the lowest percentage in 21 years.

In other words, the US economy’s dependence on China has substantially decreased.

By comparison, Mexico’s share has risen by 2 percentage points to ~15.5%, the highest on record.

Additionally, US imports from Canada have also slightly increased to ~13.5%, the highest in 10 years.

The US seems to be less vulnerable to tariffs from China than it was in the last trade war.