China might be closing its wallet to some high-profile U.S. exports as part of the ongoing trade war, but it's wide open to others.
Included on that list are items used in the manufacture of cell phones, computers and other high-tech gadgets as well as medicines and medical equipment.
While soybeans dropped almost 95 percent in August, while motor vehicles slipped 56 percent and while oil went from a record total to zero in just two months, 21 U.S. exports to China have increased more than $100m this year.
While not all of these fit neatly into the previously announced Made in China 2025 plan, a plan whose goal is for China to become a global leader in higher-end manufacturing and one that has drawn the ire of the Trump Administration over issues related to intellectual property theft and forced technology transfer, quite a few do.
What's growing rapidly? Think machinery used to make semiconductors, the semiconductors and computer chips themselves.
U.S. exports of machinery used to manufacture semiconductors to China are up just under 70 percent on the year, 152 percent for the month of August alone, when compared to the previous August. That's a $1.16bn increase this year. In 2017, China ranked third for these purchases from the United States, with 15 percent of the total, trailing Taiwan and South Korea. For the month of August, China became the United States' largest customer, with 23 percent of the total. The machinery is the sixth most-valuable U.S. export to China this year, trailing only aircraft and parts; oil, which soared through the first half of the year; motor vehicles; computer chips and semiconductors; and soybeans. Semiconductor exports to China are up $428.73m this year, with $96.05m of that in August alone, the most recent U.S. Census Bureau data available.
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