Share (%) of U.S. imports Sourced from China

After joining the World Trade Organization in September 2001, China's market share grew rapidly for nearly two decades, peaking at 22 percent in 2017, making China the largest foreign supplier to the United States. This trend reversed after the US government imposed tariffs on roughly two-thirds of its goods imports from China beginning in July 2018. (Federal Reserve System, USA)

Share of imports from China declined significantly. The decline in imports was concentrated in goods subject to tariff increases (Bown, 2022; Freund et al., 2023; Pierce and Yu, 2023).