China's Trade Dependence on the U.S. Declines Sharply, Outpacing the U.S. Shift Away from China

The U.S. share of China’s trade (exports + imports) increased from 11% in 1985 to a peak of 26% in 1998 and 1999. Since 2000, this share has gradually declined, reaching 10% in 2023—the lowest level in four decades. While the U.S.-China trade war, beginning in 2018, accelerated this trend, the primary driver has been China's diversification of export markets.

Similarly, China’s share of U.S. trade grew from 1.4% in 1985 to a peak of 15% during 2015–2018. However, following the start of the trade war in 2018, this share also declined, reaching 10% in 2023.