Trade Between U.S. And China Increases

As expected, the value of goods exchanged between the U.S. and China increased in June 2026.

The U.S. Census Bureau reports a combined total of $34.7 billion worth of goods were processed through U.S. ports during the month. Both outgoing exports to China and incoming imports from China increased month-over-month. Exports rose 5% from $9.117 billion to $9.571 billion and imports grew 7% from $23.508 billion to $25.150 billion between May and June 2026.

Year-over-year, the combined value of goods traded between the U.S. and China has increased by 22%. Digging into that number, we find some really lopsided results. The increase of U.S. exports to China accounts for just 2% of the year-over-year increase, while China's exports make up the remaining 98%.

Reports indicate technology goods such as semiconductors, computing hardware, and AI technology components led the increase in China's exports to the U.S. in June 2026. In addition, U.S. firms importing lower-value goods for the upcoming Christmas shopping season had a strong incentive to pull their orders forward 1-2 months earlier than normal, seeking to beat the clock on new U.S. tariffs.

The following chart shows how the flow of trade between the U.S. and China has evolved from January 2017 through July 2026.

June 2026 saw the twelve month trailing average value of goods directly traded between the U.S. and China record its second increase after having registered declines in each month from February 2025 through April 2026. The cumulative total loss of direct trade between the U.S. and China with respect to a counterfactual projection of what that trade would have been without the tariff war between the two nations adds up to $187.4 billion through June 2026.