US-China trade is falling, Fed researchers find

Fall driven by advanced technology trade, but other US allies are not following suit, paper finds

China-US trade tariffs

The US and Japan are reducing trade links with China, but other developed economy countries are increasing them, research published by the Federal Reserve Board finds.

Authors Justin Pierce and David Yu say the US and Japan had decreased their trade with China between 2016 and 2022. But the European Union, Australia and New Zealand increased their trade with Asia’s largest economy during this period, they find.

“Given the sustained – or even increased – reliance on imports from China among

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