China long has had wide access to American markets while restricting U.S. manufacturers’ ability to sell products in the communist nation.
That’s all up in the air now as President Trump, who during his campaign for president highlighted the trade imbalance, moves to level the playing field.
He’s proposed tariffs, and China retaliated immediately with its own plans for tariffs.
But a report from the Congressional Research Service notes that China is already several years into a special “Made in China 2025” program that aims to upgrade and improve its manufacturing sector.
It’s a plan that could be impacted by Trump’s effort for fairer trade.
China’s plan, which was adopted while Barack Obama was in office, is described in a China-U.S. Trade Issues report from the CRS.
CRS notes U.S.-China trade rose from $2 billion in 1979 to $636 billion in 2017, making China the largest merchandise trading partner for the U.S.
“Many U.S. firms view participation in China’s market