Commentary During the pandemic, it was hard to get a fix on Sino-American trade, but now that the oppressions of lockdowns and quarantines are lifting—in the United States as well as in China—some statistical clarity has returned. Two trends stand out. One, American producers clearly have begun to shift sourcing away from China; and two, China has markedly increased its purchases in the United States. Some of this relative movement reflects Beijing’s policy during the pandemic, but it also has a more fundamental component based in relative costs. Some reflects Beijing’s efforts to comply with the trade deal hammered out between it and Washington in 2019 and sealed just before the onset of the pandemic. Supply chain shifts show clearly in the data on U.S. imports. The robust response of the American economy to the lifting of pandemic-related strictures has sucked imports into the country from everywhere, as is usually …
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