Washington DC - U.S.–China trade recorded one of its steepest bilateral contractions in recent history in 2025, underscoring a structural shift in global supply chains rather than a short-term disruption, according to a new report released Monday by supply chain visibility firm project44.

U.S. imports from China fell 28 per cent year-on-year, while exports to China declined an even steeper 38 per cent over the full year, reflecting the cumulative impact of tariffs and trade policy uncertainty. The pullback coincided with Southeast Asian economies capturing significant market share as companies accelerated sourcing . . .