"U.S.-China economic ties have expanded substantially over the past three decades. Total U.S.-China merchandise trade rose from $2 billion in 1979 (when economic reforms began) to $579 billion in 2016. China is currently the United States' second-largest merchandise trading partner, its third-largest export market, and its biggest source of imports. According to one source, China is a $400 billion market for U.S. firms when U.S. services exports to China, sales by U.S. foreign affiliates in China, and re-exports of U.S. products through Hong Kong to China are factored in. Many U.S. firms view participation in China's market as critical to staying globally competitive. [...] This report provides background and analysis of U.S.-China commercial ties, including history, trends, issues, and outlook."
CRS Report for Congress, RL33536
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html