U.S. President Donald Trump is once again escalating the trade war with several of its partners. One such partner is China, with the implementation of a 10% tariff on imports from the country, effective February 4, 2025.
Comtrade data shows that U.S. goods trade with China from January to November 2024 reached US$554.04 billion, or approximately Rp9.01 quadrillion (assuming an exchange rate of Rp16,300 per US$).
Details show that imports from China reached US$423.05 billion, while U.S. exports were only US$130.98 billion. As a result, the U.S. trade balance with China showed a deficit of US$292.07 billion.
Over the past decade, U.S. goods trade with its East Asian partner has consistently shown a deficit. The details are as follows:
* 2015: US$387.96 billion
* 2016: US$365.72 billion
* 2017: US$395.97 billion
* 2018: US$443.06 billion
* 2019: US$365.84 billion
* 2020: US$332.52 billion
* 2021: US$390.47 billion
* 2022: US$421.85 billion
* 2023: US$300.21 billion
* 2024 (November): US$292.07 billion.