NYT: Trade With China Roars Back As Americans Are Stuck At Home
Thu December, 2020, Age: 3 years
An American surge in imports is a byproduct of the coronavirus pandemic, with consumers channeling money they might have spent on vacations, movies, or restaurant dining to household items like home office or workout equipment and toys to keep their children entertained. In November, China reported a record trade surplus of $75.43 billion, propelled by an unexpected 21.1 percent surge in exports compared with the same month last year. Leading the jump were exports to the United States, which climbed 46.1 percent to $51.98 billion, also a record. That surge has defied the expectations of American politicians of both parties, who earlier this year predicted that the pandemic, which began in China, would be a moment for reducing trade with that country and finally bringing factories back to the United States.