China import share back to 2001

Gita Gopinath reports that China now accounts for 9% of U.S. imports — roughly the same share it had just before joining the World Trade Organization in 2001. That single statistic compresses two decades of trade policy, tariffs, export controls, and supply‑chain shifts into a clear snapshot that invites causal investigation. — If sustained, this reversal matters for policy and politics because it indicates a structural reconfiguration of U.S.–China economic ties with implications for jobs, investment, and national security.