$32 billion trade gap won't close overnight

The trade gap between the U.S. and China stood at $30 billion in the second quarter, just below its four-month average of $32 billion. The relationship between the world's largest consumer economy and the largest producer economy has become the hot-button economic — and political — debate, as cheaper Chinese goods out-compete their U.S.-made counterparts.

Trade parity between the two countries is highly improbable, particularly in the short run, as alternatives for the nearly $40 billion in goods coming into the U.S. per quarter, including specialty tech components, won't quickly have domestic replacements and likely not at a similar cost.

Additionally, the impact on U.S. exports to China, mostly agricultural, will have negative impacts on U.S. agricultural export markets as buyers of excess inventory will vanish.