China's trade with US shrinks as tariff war worsens

Sun Online Desk

8th September, 2019 12:30:29 printer

China's trade with US shrinks as tariff war worsens

China's trade with the United States is falling sharply as the two sides prepare for more negotiations with no sign of progress toward ending a worsening tariff war that threatens global economic growth.

Imports of US goods fell 22% in August from a year earlier to $10.3 billion following Chinese tariff hikes and orders to companies to cancel orders, customs data showed Sunday, reports AP.

Exports to the United States, China's biggest market, sank 16% to $44.4 billion under pressure from punitive tariffs imposed by President Donald Trump in a fight over Beijing's trade surplus and technology ambitions, reports AP.

US and Chinese tariff hikes on billions of dollars of each other's imports have disrupted trade in goods from soybeans to medical equipment and battered traders on both sides.

Chinese exporters also face pressure from weakening global consumer demand at a time when Beijing is telling them to find other markets to replace the US.

 


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