Apollo Chief Economist: Chinese Exports to US Fall to 14% Since 2017 Amid Trump Tariffs and Global South Growth

The share of Chinese exports going to the United States has declined from 20% in 2017 to 14% in 2025, according to Torsten Slock, Chief Economist at Apollo. This shift reflects China's growing export relationships with countries such as Vietnam, Taiwan, Mexico, India, and South Korea. While some argue that China can do without the U.S. given that exports to the U.S.

account for only 2.5% of Chinese GDP, others emphasize that the U.S. remains dependent on China, which is a central hub in global logistics and supply chains. China exports more to the global south than to the U.S. and Europe combined, and its economy is projected to contribute at least twice as much to global economic growth as the U.S. The ongoing trade tensions and tariffs, particularly under the Trump administration, have not diminished China's role in global trade but have altered the distribution of its export markets.