China’s Share of US Imports Falls to 7% as Vietnam Closes in

China’s share of US imports fell to 7.1% in May, the lowest since 2001, according to trade data published on Thursday by the US Census Bureau.

That’s a 4.3 percentage point lower than the same period last year and part of a longer-term decline that began during President Donald Trump’s first term in office. China’s share of imports was recently as high as 14.8% in September 2024, prior to Trump returning to office and implementing steep new tariffs on imports from the country.

Among the biggest beneficiaries of the realignment have been China’s neighbors in Asia. Both Taiwan and Vietnam each accounted for nearly 6% ...