US tariffs on China have changed the routes through which Chinese-made content reaches the US far…

US tariffs on China have changed the routes through which Chinese-made content reaches the US far more than they have reduced US dependence on China. Examining value-added trade flows through 2024 shows that US reliance on Chinese producers has fallen much less than bilateral trade data suggest. Spurred by President Donald Trump’s tariffs on China in his first term, Chinese goods and services…