U.S.-China trade hit record in 2022 despite tensions

Robust cross-border flows run counter to talk of 'decoupling'

The Ever Forward container ship in the Chesapeake Bay off the U.S. state of Maryland. Trade between China and the U.S. rose to a record even as tariffs imposed by the Trump administration mostly remain. © Reuters

MARRIAN ZHOU and RINTARO TOBITA, Nikkei staff writers

February 7, 2023 22:46 JST

NEW YORK/WASHINGTON -- Trade between the U.S. and China set a record last year, official figures released Tuesday show, despite bilateral tensions running high.

Imports and exports of goods between the countries hit $690.6 billion, a U.S. Bureau of Economic Analysis report shows. The U.S. imported more toys and other consumer products, with China increasing imports of soybeans and other foods. The robust figures run counter to talk that the world's two largest economies are on track to decouple.