China tariffs

When China entered the WTO in 2002, they lowered their tariffs on the US from 24% in 1997 to 9% in 2005. Their overall tariff rate dropped from 15% in 2001 to under 10% by 2005. By 2010 the rate declined to 8%. During these years the US charged less than 2% tariffs on imported Chinese goods. The US trade deficit with China increased from $100 billion in 2002 to over $400 billion in 2018. With recent changes in tariffs the deficit with China fell to $200 billion in 2025 down by $130 billion from the previous year. The US has moved to buying from other Asian countries and away from China as the cost of goods from China increased due to tariffs. The overall trade deficit in the US has grown as the economy expands but with far fewer purchases from China.