Wisconsin’s exports to China climbed to a high of $1.73 billion in 2017 but declined the next year by 5.7% as the United States took aim at Chinese business practices and trade tensions escalated between the two countries. Exports declined another 17.6% though November of last year and were on pace for their lowest level since 2010, according to U.S. Census data.
The phase one trade deal signed by the U.S. and China in mid-January could reverse some of the downward trend. In addition to easing some tariffs and changing how the two countries do business with each other, the deal includes a pledge from the Chinese to – over two years – buy an additional $162.1 billion in goods and $37.9 billion in services from the U.S. above 2017 levels. The U.S. exported $129.8 billion in goods to China in 2017.
Wisconsin stands to benefit primarily from China’s pledge to buy an additional $77.7 billion in manufactured goods and $32 billion in agricultural products in 2020 and 2021.
Here are the top product categories included in the deal based on Wisconsin’s 2017 exports:
|
Product |
2017 WI Exports - Advertisement -
|
Percent |
|
Manufactured Goods |
$912.3 |
1.8% |
|
X-ray apparatus; tubes, panels, screen |
$169.0 |
23.5% |
|
Medical, surgical, dental or vet instruments |
$118.8 |
4.9% |
|
Sawn, chipped, sliced wood over 6mm |
$64.2 |
3.7% |
|
Electrical transformers, static converters and inductors |
$37.7 |
9.8% |
|
Machines with individual functions |
$35.9 |
6.2% |
|
Transmission shafts, bearings, gears |
$30.8 |
10.2% |
|
Spark-ignition reciprocating or rotary internal combustion piston engines |
$30.7 |
14.6% |
|
Prepared unrecorded media (no film) for sound |
$28.4 |
7.4% |
|
Agricultural products |
$181.2 |
0.9% |
|
Raw hides and skins of bovine or equine animals |
$47.8 |
5.5% |
|
Whey and milk products |
$47.0 |
19.1% |
|
Plants for pharmacy, perfume, insecticides |
$14.1 |
59.9% |
|
Prepared or preserved fruit and nuts |
$11.1 |
10.0% |
|
Odoriferous mixtures used as raw material for industrial and beverage manufacturing |
$8.8 |
12.3% |
|
Sugars including chemically pure lactose; caramel |
$8.6 |
13.1% |
|
Soybeans |
$7.2 |
0.1% |
|
Preparations used in animal feeding |
$7.0 |
3.8% |
