Appendix figure
US exports to China of products not covered by the phase one agreement declined sharply in 2025

US goods exports not covered by the phase one deal, billions of 2017 dollars, 2009–25

Notes: Uncovered product category refers to products exported from the United States to China but not covered in Annex 6.1 of the Economic and Trade Agreement between the United States of America and the People’s Republic of China. “Projected purchases with no trade wars (real)” are constructed by projecting US exports based on growth of China’s real imports of goods uncovered by the phase one agreement from the world.
Source: Constructed by the author with US export data from US Census, and Chinese import data from International Trade Centre (Trade Map) and Chinese Customs. The price deflators are from Federal Reserve Economic Data (FRED), US Bureau of Labor Statistics, and Netherlands Bureau for Economic Policy Analysis.Download image