In March 2018, a trade war between the U.S. and China began when President Trump initiated tariffs on $50 billion of Chinese-produced goods such as steel and aluminum, with China immediately retaliating with tariffs on U.S.-produced agricultural goods such as pork and soybeans.
On Thursday morning, the U.S. Census Bureau released its data on the value of goods exchanged between the two nations for March 2019, where we can now measure the direct year-over-year impact of the U.S-China tariff war. Our first chart shows the year-over-year exchange rate-adjusted growth rate of U.S. exports to China