Based on the pattern of international division of labor in global value chain, this paper measures and analyzes the total value of Sino-US manufacturing and the actual trade gains of manufacturing sub-sectors by using KWW. The research shows that, compared with traditional trade statistics methods, China's actual trade gains in Sino-US manufacturing trade under trade added value are more than 20% lower than those in the United States. Measurement of added value of manufacturing industry by factor intensity: the United States is at the high end of the value chain of knowledge-based manufacturing, with more trade profits; China's labor-intensive manufacturing industry is gradually rising from the low end of the global value chain; China's capital-intensive manufacturing industry is at the low end of the value chain. From the perspective of added value, the trade balance between China and the United States is mainly caused by the trade balance between knowledge-based manufacturing industries. Through the empirical analysis of the influencing factors of China's overall and sub industry export domestic added value of U.S. manufacturing industry, it is concluded that the influence coefficient of industrial upstream on added value is negative, and comparative advantage, economies of scale and technological innovation have a positive impact on manufacturing added value. Therefore, China should speed up talent training, strengthen technological innovation, build a global value chain of China's manufacturing industry, and accelerate manufacturing trade cooperation with countries along "the belt and road", so as to promote the development of China's manufacturing industry.