Chinese Opioid Exports Cost US $1.47 Trillion In 2020

While opioids are well-known for the devastating human toll exacted on the U.S. population, there is now data to show the enormous economic impact of this flood of Chinese drugs.

A new congressional report from the Joint Economic Committee (JEC) reveals that as recently as 2020, the opioid crisis cost the U.S. economy a staggering $1.47 trillion. That’s $487 billion more than just one year earlier and a 37% jump from 2017.

Synthetic opioids, largely produced by the communist Chinese, have led the five-time increase the U.S. has experienced in overdose deaths since 1999. The numbers ballooned in 2012 when synthetic opioids from China began flooding the U.S.

The Centers for Disease Control and Prevention reported that, from 2019 to 2020, opioid-related deaths increased 38%.

Even more shockingly, the CDC said that synthetic opioid deaths for the same one-year period skyrocketed 56%.

Further, 2021 saw a staggering 107,622 overdose deaths overall, and 75% of them involved opioids. For U.S. adults 18-45, fentanyl is the leading cause of death.

As Rep. David Trone (D-MD) declared, the current drug overdose epidemic is the “equivalent (of) one 737 every day going down, no survivors.”

China remains the principal source, if indirectly, of fentanyl for the U.S. market. Finished fentanyl is not commonly shipped directly from China, but instead is smuggled through Mexico.

In a Jan. 2020 report, the Drug Enforcement Administration declared that “Mexico and China are the primary source countries for fentanyl and fentanyl-related substances” that are wreaking havoc on the nation.

Precursors for the deadly drug originate in communist China and are sent to Mexico for finished fentanyl. The U.S. has long considered Chinese efforts at controlling what is flowing out of their borders insufficient, but Beijing steadily points the finger at U.S. appetites.

It was just 2018 when the Council of Economic Advisors estimated the crisis to have consumed 3.4% of the GDP. The JEC report concluded that the scourge of deadly fentanyl flowing from China through Mexico and into the U.S. will continue to increase. As will the economic devastation.