This statistic shows the results of a survey conducted among American companies in China on the perceived impact on their businesses of the U.S.-China trade tariffs as of September 2018. During the survey period, 47.1 percent of the surveyed American companies in China responded that the combined U.S.-China trade tariffs increased their cost of manufacturing.

This statistic shows the results of a survey conducted among American companies in China on the perceived impact on their businesses of the U.S.-China trade tariffs as of September 2018. During the survey period, 64.6 percent of the surveyed American companies in China said that they had no plans to relocate their manufacturing facilities due to the U.S.-China trade tariffs and trade relations, however, 18.5 percent of the companies reported to have relocated or considering relocating their manufacturing facilities to Southeast Asia.

Tariffs have long been central tool in global trade policy. Learn how tariffs affect critical US industries, and how businesses are navigating their impacts.

This statistic shows the results of a survey conducted among American companies in China on the perceived impact on their businesses of the U.S.-China trade tariffs as of September 2018. During the survey period, 82.1 percent of the surveyed American companies in China whose businesses were related to healthcare products said that the combined U.S.-China trade tariffs reduced their profits.

In 2023, Chinese exports of trade goods to the United States amounted to about 427.23 billion U.S. dollars; a significant increase from 1985 levels, when imports from China amounted to about 3.86 billion U.S. dollars. U.S. exports to China Compared to U.S. imports from China, the value of U.S. exports to China in 2020 amounted to 427.23billion U.S. dollars. China is the United States’ largest trading partner, while China was the United States third largest goods export market. Some of the leading exports to China in the agricultural sector included soybeans, cotton, and pork products. Texas was the leading state that exported to China in 2020 based on total value of goods exports, at 16.9 billion U.S. dollars. U.S. - China trade war The trade war between the United States and China is an economic conflict between two of the world’s largest national economies. It started in 2018 when U.S. President Donald Trump started putting tariffs and trade barriers on China, with the intent to get China to conform to Trump’s wishes. President Trump claimed that China has unfair trade businesses. As a result of this trade war, it has caused a lot of tension between the U.S. and China. Nearly half of American companies impacted by the U.S.-China trade tariffs said that the trade war increased their cost of manufacturing. The healthcare product industry has suffered the most from the trade war in regards to reduced profits.

The global plastic parts and packaging industry continues to face potential volatility. Trade uncertainties due to tariffs, particularly involving the US, Mexico, Canada, and China, are creating cost pressures for manufacturers who must consider pricing adjustments or supply chain realignments. Shifts in petrochemical prices further complicates cost management, pushing companies to explore alternative materials to stabilize input costs. Meanwhile, e-commerce growth has driven higher demand for packaging but also raised environmental concerns, prompting a shift toward sustainable packaging solutions like biodegradable and recycled materials. Regulations on single-use plastics, especially in the EU, Australia, and Kenya, are pushing manufacturers to adopt more sustainable practices. The Asia-Pacific region sees robust growth due to an expanding population, rising incomes, and lower labor costs, though the broader industry is experiencing slower growth due to economic stagnation and plastic price declines. Despite these challenges, industry revenue has remained resilient and is forecast to grow at a CAGR of 2.9% to $884.3 billion through the end of 2025, with 1.9% growth expected during the current year alongside steady profit. Global demand for plastic products has been healthy over the past five years. Various manufacturing industries use plastic products, including food and beverages, household chemicals, pharmaceuticals, automobiles, furniture, and appliances. Global consumer spending has grown, stimulating demand for various goods. Earlier volatility due to pandemic-related disruptions and inflationary pressure on costs presented a historical challenge to the industry. Over the next five years, rising global consumer spending e-commerce and online grocery will increase the demand for plastic packaging, particularly in the food, beverage, and consumer goods sectors. The healthcare and pharmaceutical industries are also driving demand as populations age and require more medical products, which need safe packaging. Additionally, economic growth in regions like Asia is expanding the middle class and diversifying consumption patterns, boosting the demand for plastic packaging across a range of products. As environmental concerns grow, the industry faces challenges in integrating recycled content without compromising quality and performance. Industry revenue is expected to rise at a CAGR of 2.4% to $995.9 billion through the end of 2030.

Most solar installations in the United States require the use of imported panels, largely imported from Southeast Asia. Over 34 percent of solar photovoltaic (PV) modules imported into the U.S. between January and November 2023 came from Vietnam. Solar import tariffs In 2012, the Obama administration implemented duties on solar equipment imported from China to counteract the competitive edge held by foreign companies. These levies were then expanded in 2015, leading to the gradual phase-out of Chinese solar imports. Since then, the U.S. solar market has heavily relied on equipment assembled in SE Asia. However, in April 2022, the U.S. Commerce Department launched an import-tariff-circumvention investigation, under the suspicion PV modules imported from these countries contained components made in China. In August 2023, the Commerce Department published its final conclusion, stating that a number of the investigated companies were violating U.S. laws. Accordingly, new steep duties are scheduled to be implemented on such companies in June 2024. How is the solar market now? The price of solar PV modules in the United States has seen an overall decline since 2015, despite some fluctuations. During the same period, the number of solar energy-related jobs in the North American country has been on a mostly upward trend, reaching a record high of nearly 264,000 jobs in 2022. Altogether, the U.S. solar energy industry continues to prosper in spite of the import tariffs placed on this renewable energy source.