There has been a notable shift towards regionalization and diversification of supply chains, leading to a more balanced trade relationship between the US and China.
Adjustments in trade policies, consumer preferences, and geopolitical tensions are key factors contributing to the decrease in the US-China trade deficit.
The US is actively reducing dependence on Chinese manufacturers by exploring alternatives in Latin America, Southeast Asia, and domestic manufacturing.
Geopolitical conflicts such as human rights abuses and territorial disputes complicate the trade relationship between the US and China.
#us-china-trade-deficit #supply-chain-diversification #geopolitical-conflicts #trade-policies #consumer-preferences
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