$66 Billion Loss for US Due to Closure of Houston Chinese Consulate

Global Times, Consular Services in Houston and 6 Texas States
China's Trade Volume with 6 States Reached $66.1 Billion Last Year

[Asia Economy Beijing=Special Correspondent Jo Young-shin] There are claims that the closure of the Chinese Consulate General in Houston, Texas, USA, is expected to cause economic losses exceeding 60 billion dollars.

China's state-run Global Times reported on the 24th that the closure of the Chinese consulate in Houston could cause difficulties in trade between China and the US exceeding 60 billion dollars.

The Global Times stated that the Houston Chinese consulate provides consular services to six US states including Texas, Alabama, and Florida.

The Global Times said that the trade volume between the six US states and China was 66.1 billion dollars as of last year, and that the suspension of consular services would inevitably harm American companies trading with Chinese companies operating locally in the US.

In particular, Texas was identified as the largest export state to China among the 50 US states. The newspaper reported that Texas exported goods worth 11.05 billion dollars to China last year, of which 2.6 billion dollars were fossil fuels.

The newspaper emphasized that 208 companies, including the Chinese energy company Sinopec, have invested in Texas.

The Global Times stated that according to the China-US trade agreement signed in January, China must purchase a total of 200 billion dollars worth of US products within two years, including energy products worth 50 billion dollars. It explained that the consulate closure may hinder the smooth import of US products such as energy.

Wang Yiwei, director of the Institute of International Studies and European Research Center at Renmin University of China, said, "The consulate closure is tantamount to the disappearance of the background for Chinese companies operating locally in the US," adding, "Chinese companies cannot help but feel uneasy, which will soon affect trade transactions."

The Global Times emphasized that the business environment has been seriously damaged due to the consulate closure and that a stable political environment must come first for normal trade transactions.

Meanwhile, US Secretary of State Mike Pompeo reiterated on the 23rd (local time) that the Chinese Consulate General in Houston is a center for espionage activities and intellectual property theft, showing no intention of backing down.

This content was produced with the assistance of AI translation services.