China's trade dependence on the US is declining

China is becoming less dependent on trade with the United States, which will mitigate the impact of the additional 10 percent tariffs on Chinese exports, according to the US think tank Council on Foreign Relations.

China increased trade with other partners, with the US falling to third place with $688 billion in 2024, behind ASEAN, which reached $982 billion, and the EU with $786 billion. China's exports to the US account for only 15 percent of its total exports.

China is also gradually reducing the importance of trade to its economy as domestic demand expands. Consumption is the main driver of growth in the Chinese economy. Final consumption expenditure contributed 44.5 percent to overall GDP growth in 2024 and 82.5 percent in 2023.

CMG