State’s GDP relies on Chinese imports more than any other in US
US President Donald Trump won the state of Tennessee with 61.1 percent of the vote in the 2016 presidential election.
It was the largest margin of victory for a presidential candidate from either party since 1972, and the first time since that year that either party had gotten more than 60 percent of the state’s vote.
Politically bright-red Tennessee, coincidentally, is the US state most dependent on trade with China.
“Any new import fees or trade restrictions would definitely put a crimp in those industries relying upon Chinese parts for their products,” Steve Livingston, a professor of political science at Middle Tennessee State University, told the Times Free Press of Chattanooga.
For now, it doesn’t look like Tennessee has anything to worry about, and Trump and the US Treasury Department have decided not to label China a currency manipulator.
Trump also spoke glowingly of his rapport with President Xi Jinping at their Mar-a-Lago summit earlier this month, an outcome welcomed by businesses on both sides of the Pacific, considering the rough rhetoric that flowed out of the US campaign.
The Volunteer State imported $23.7 billion of products from China last year. China provided the largest percentage of Tennessee’s imports (31.4 percent) in 2016, followed by Japan and Mexico.
The two-way trade represents 9.3 percent of the state’s gross domestic product, the highest percentage of any state in the country, according to the US Census Bureau. (Tennessee exported $2.2 billion worth of products to China last year.)
According to the Business Roundtable, international trade supports almost 830,000 jobs in Tennessee – more than 1 in 5.
The University of Tennessee Health Science Center plans to build strategic cooperative relations with biomedicine companies in Chengdu, Sichuan province, and establish a mechanism to ensure steady technology and personnel exchanges in 3-D bio-printing.
The latest 3-D bio-printing technology is bringing about a medical revolution that will change human life, said Steven Goodman, vice-chancellor of the University of Tennessee’s Memphis campus.