The soaring US trade deficits with China have frequently been in the headlines and are an urgent issue for policymakers in Washington DC. However, the associated environmental impacts, especially carbon dioxide emissions (CO2) embodied in the US-China trade flows, have not yet drawn sufficient attention. This talk examines the influence of US-China trade on national and global emissions of carbon dioxide (CO2). I will discuss three basic questions: (1) How much of CO2 emissions in the US are avoided by importing Chinese goods? (2) How much are CO2 emissions in China increased as a result of the production of goods for export to the US? and (3) What are the impacts of US-China trade on global CO2 emissions?