Goods worth about $1 billion are still crossing the Pacific daily from China to the United States, with Chinese exports to the U.S. slightly up in September compared to August, Bloomberg reported on Wednesday.
Six months into the U.S.-initiated trade war, the resilience of Chinese exports proves how essential many of its products remain, even with U.S. tariffs reaching as high as 55 percent, according to the report.
“The upshot is that U.S. tariffs appear somewhat limited in their ability to control what American firms import, as China’s sway over sectors such as rare earths and electronics makes its products hard to dislodge, at least in the short term,” the report read.
Shipment of certain Chinese product categories even saw year-on-year growth, defying the trade tensions between the world’s two largest economies. According to Bloomberg’s analysis of Chinese customs data, U.S. demand for e-bikes is particularly strong, with Chinese companies exporting over $500 million worth of e-bikes in the third quarter, a slight increase from the same period last year.
“China’s strong position in global supply chains gives it some bargaining power with U.S. importers in the near term,” wrote Bloomberg economists Chang Shu and David Qu.
The economists also cautioned that other countries “cannot quickly displace China” as a supplier to the U.S. “Realigning production will take time,” they added.
During the third quarter, more than $100 billion worth of Chinese commodities reached the United States. Specifically, Chinese companies exported nearly $8 billion worth of smartphones, laptops, tablets and computer components to the U.S.
According to China’s General Administration of Customs, the country’s total exports in September grew by 8.3 percent year on year, a figure higher than August’s 4.4 percent growth and surpassing the 6 percent forecast by Reuters.
In the latest escalation, the administration of U.S. President Donald Trump has threatened an additional 100 percent tariffs on Chinese goods.
In a video call on October 18, Chinese Vice Premier He Lifeng, who is also Chinese lead person for China-U.S. economic and trade affairs, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer agreed to hold a new round of economic and trade consultations “as soon as possible.”
The Chinese Ministry of Commerce said in a statement on October 14 that China’s position concerning tariff or trade wars has been consistent. “If forced to fight, China will fight to the end, and for talks, the door is open,” it said.
The past four rounds of China-U.S. economic and trade consultations have fully demonstrated that the two sides can find solutions to problems on the basis of mutual respect and equal consultation, the ministry stressed.
