China was likely knocked off the perch as the top exporter to the U.S. for the first time since 2006 last year. American goods imports from China dropped more than 20% on the year for the January-November period, according to U.S. Commerce Department data released this week. China accounted for 13.9% of total U.S. imports, the smallest share since 2004, after peaking at more than 21% around 2017. U.S. exports to China have stayed roughly flat on the year. Mexico is set to take the lead for the full year for the first time since 2000. U.S. imports from the country are on track to set a record high in 2023, and its share of the total topped 15% for the first 11 months of the year. Imports from the European Union also reached an all-time high for that period.
- Date Posted:
- January 11, 2024
Chinese companies are resorting to chips repurposed from standard PC gaming products to develop artificial intelligence tools after Washington blocked US exports of high-performance processors. Thousands of Nvidia gaming graphics cards are being stripped of their core components in factories and workshops every month, before being installed on new circuit boards, according to two factory managers and two chip buyers familiar with the situation. Industry experts said the repurposing of chips from cards designed to be slotted into consumer PC motherboards to improve gaming graphics amounted to a rough workaround to tackle the lack of high-end processors in China.