when did the us start trade with china
China–United States relations From February 21 to February 28, 1972, President Nixon traveled to Beijing, Hangzhou, and Shanghai. At the conclusion of his trip, the US and the PRC issued the Shanghai Communiqué, a statement of their respective foreign policy views. In the Communiqué, both nations pledged to work toward the full normalization of diplomatic relations. This did not lead to immediate recognition of the People's Republic of China but 'liaison offices' were established in Beijing and Washington.[70] The US acknowledged the PRC position that all Chinese on both sides of the Taiwan Strait maintain that there is only one China and that Taiwan is part of China. The statement enabled the US and PRC to temporarily set aside the issue of Taiwan and open trade and communication. Also, the US and China both agreed to take action against 'any country' that is to establish 'hegemony' in the Asia-Pacific. On several issues, such as the ongoing conflicts in Korea, Vietnam, and Israel, the US and China were unable to reach a common understanding.[70]
United States Balance of trade The US last had a trade surplus in 1975.[17] However, recessions may cause short-run anomalies to rising trade deficits.