Despite the Trump administration's tariffs on Chinese goods and the ongoing COVID-19 pandemic, U.S. imports from China are surging as the year 2020 draws to a close, The New York Times reported.
The surge in imports is another byproduct of the coronavirus, with Americans channeling money they might have spent on vacations, movies and restaurant dining to household items like new lighting for home offices, workout equipment for basement gyms, and toys to keep their children entertained, the report said.
Trade data for the first 10 months of this year, compiled from United States Customs data by IHS Markit, shows that American imports of consumer electronics, masks and other personal protection equipment from China have been strong amid the pandemic, according to the report.
In November, Chinese exports to the United States climbed 46.1% to a record US$ 51.98 billion U.S. dollars, the report noted.
The surge in U.S. imports from China has defied the expectations of American politicians of both parties, who earlier this year predicted that the pandemic would be a moment for reducing trade with China and finally bringing factories back to the United States, the report said.
The report found that there is little sign that global supply chains are returning to the United States despite the Trump administration's tariffs on more than 360 billion U.S. dollars worth of Chinese imports.
Instead, the prolonged effects of the pandemic on the United States appear to have only reinforced China's manufacturing position, the report said.