2014

U.S. Census Bureau Daily Feature for January 2

WASHINGTON, Jan. 2, 2014 /PRNewswire-USNewswire/ -- Following is the daily "Profile America" feature from the U.S. Census Bureau:

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FOREIGN TRADE

Profile AmericaThursday, January 2nd. On this date in 1900, President William McKinley's Secretary of State, John Hay, announced the so-called "open door" policy to stimulate trade with China, free of exclusion by imperial European powers scrambling for control of Chinese markets in the era before the income tax. This was significant because a very large portion of federal revenue came from tariffs or customs on imports. In 1900, federal receipts were around $567 million, of which 41 percent were from customs duties. Today, China is the nation's second leading trade partner. And as of this past September, our imports from China were valued at over $40 billion for the month, while exports to that nation totaled a little over $9 billion. You can find more facts about America from the U.S. Census Bureau, online at www.census.gov.

Sources:
U.S. Department of State, Office of the Historian
Historical Statistics of the United States: Colonial Times to 1970, p. 1106
http://www.census.gov/foreign-trade/balance/c5700.html

Profile America is produced by the Center for New Media and Promotions of the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for "Multimedia Gallery" by the "Newsroom" button).  

SOURCE U.S. Census Bureau



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