March 18, 2024
$32b Disappointment: China’s 2023 Purchases of U.S. Ag Products Sluggish
Just a few years ago, it seemed that U.S. ag exports to China might never return to pre-trade war highs of around $29b annually. But now, after back-to-back years of new highs in 2021 ($35.9b) and 2022 ($40.9b), 2023’s decline to just $31.6b of purchases feels disappointing (Figure 1). Figure 1. Value of China’s Purchases…
