Slackening demand from China hurting a variety of U.S. industries, Between the work stoppages at West Coast ports and the strong dollar, export businesses in California and across the country have had a tough few months. But for some, the biggest sucker punch has come from China.
With its economy slowing amid a global glut of commodities, China is ordering less and driving steep price cuts for many goods — hurting a range of American industries such as scrap-metal dealers in Los Angeles, manufacturers in the Midwest and cotton farmers in the Mississippi Delta.
U.S. exports of merchandise to China, America's third-biggest overseas market, rose just 1.6% last year after a 10% increase in 2013. Meanwhile, imports from China grew 5.7% last year, resulting in the largest-ever U.S. trade deficit with the Asian nation.Read More
With its economy slowing amid a global glut of commodities, China is ordering less and driving steep price cuts for many goods — hurting a range of American industries such as scrap-metal dealers in Los Angeles, manufacturers in the Midwest and cotton farmers in the Mississippi Delta.
U.S. exports of merchandise to China, America's third-biggest overseas market, rose just 1.6% last year after a 10% increase in 2013. Meanwhile, imports from China grew 5.7% last year, resulting in the largest-ever U.S. trade deficit with the Asian nation.Read More
