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.
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.
Beijing is balking at U.S. pressure to roll back plans for government-led creation of global competitors in robotics and other industries. The United States, Europe, Japan and other trading partners say those plans violate China’s market-opening commitments and are based on stealing or pressuring companies to hand over technology.U.S.
China’s global exports fell 3% to $214.8 billion, while imports were up 1.7% at $180 billion. For the first eight months of 2019, exports were off 1% from a year earlier and imports were down 5.6%.China’s global trade surplus rose 25% from a year earlier to $34.8 billion. Exports to the European Union rose 3% from a year earlier to $38.3 billion.
The decision to go ahead with talks despite the latest tit-for-tat tariff increases on Sept. 1 encouraged global financial markets. U.S. tariffs of 25% imposed previously on $250 billion of Chinese goods are due to rise to 30% on Oct. 1.
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