During the two-year period from January 1, 2020 through December 31, 2021, China has agreed to increase by $200 billion purchases from the United States of manufactured goods, agriculture, energy and services.
The increase in imports from the US of manufactured goods is $77.7 billion over the two years. Chemicals are included as manufactured goods, along with machinery, pharmaceuticals, aircraft, vehicles, medical equipment and iron and steel. Chemicals include all inorganic chemicals, such as caustic soda, sulfides, oxides, acids, and others, plus organic chemicals such as ethylene, propylene, butylene, BD, aromatics, EDC, VCM, methanol, other alcohols, glycols, MEK, other ketones, acetic acid, EA, EO, anhydrides, PTA, DMT, VAM, ACN, BPA, isocyanates and others.
The increase in imports of energy-related products from the US is $52.4 billion over the two years. This includes LNG, crude oil, refined products such as liquefied propane and butane gas, naphtha, coke, and coal.
From International Trader Publications’ Subscriber Alert, issued January 16, 2020.