ZCZC
BCN-13
CHINA-US-TRADE
China’s exports, imports slowed sharply in August: data
BEIJING, Sept 8, 2018 (BSS/AFP) – 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.
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.
Altogether, the US tariffs could ultimately hit more than $500 billion in
Chinese goods. But Beijing will struggle to keep responding in kind as it
imports less than $200 billion in US goods per year.
BSS/AFP/HR/1120