Chinese imports of American goods also dropped sharply, suggesting the trade war is hurting both countries.
China's exports to America tanked 16% in August as Donald Trump's tariffs sapped demand for Chinese goods in their biggest foreign market. Chinese imports of US goods dropped by about 22%, suggesting American exporters are also suffering from the trade war. The declines will pile more pressure on Chinese authorities to stimulate the economy, days after they announced banks' reserve requirements would be cut to their lowest level since 2007.
China's exports to America tanked 16% in August as Donald Trump's tariffs sapped demand for Chinese goods in their biggest foreign market. Chinese imports of US goods dropped by about 22%, suggesting American exporters are also suffering from the trade war. The declines will pile more pressure on Chinese authorities to stimulate the economy, days after they announced banks' reserve requirements would be cut to their lowest level since 2007.
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