China’s exports, imports slow sharply in August | 2018-09-09 |

China’s exports, imports slow sharply in August

9 September, 2018 12:00 AM printer

BEIJING: China’s exports and imports rose at a sharply slower pace in August, but its global trade surplus remained stable at $27.9 billion amid a heated US trade war, official figures showed Saturday.

Exports from the world’s second biggest economy increased by 9.8 percent while its imports rose by 20 percent compared to the same month last year, according to customs data, reports AFP.

The figures were well below July’s performance, when exports had jumped 12.2 percent and imports grew 27 percent.

The US-China trade spat escalated on July 6 when US President Donald Trump slapped tariffs on $34 billion in Chinese goods, triggering a dollar-for-dollar response from Beijing.

The two sides launched another salvo on August 23, imposing duties on $16 billion worth of products from each country.

President Donald Trump threatened Friday to slap tariffs on all of the Chinese goods imported into the United States.