China’s trade with U.S. shrinks as tariff war worsens

11 Septembre, 2019, 10:29 | Auteur: Anatole Charbonneau
  • China exports fall amid trade war

China's exports fell in August by one per cent year-on-year amid a protracted trade war with the United States, official data showed on Sunday. Forecasters had expected that to depress July sales to the United States.

That is despite analyst expectations that a falling yuan would offset some cost pressure and looming tariffs may have prompted some Chinese exporters to bring forward or "front-load" US-bound shipments into August, a trend seen earlier in the trade dispute.

Chinese customs data reported Sunday shows imports of US goods fell to $10.3 billion following Chinese tariff hikes and orders to companies to cancel orders.

A new round of USA tariffs on some Chinese goods and Chinese tariffs on USA goods is scheduled to take effect from 0401 GMT on Sunday.

USA and Chinese negotiators are preparing for talks in October over Beijing's trade surplus and complaints about its technology development tactics.

Negotiations between the USA and China fell apart in May due to disagreements over how to enforce agreements between them, with Beijing demanding Trump lift the ever-growing retaliatory tariffs once an agreement between the two countries is reached and goes in to effect. Washington says some must stay to ensure Beijing carries out any promises it makes. The year-on-year data were released as a long-running trade spat between the two world powers showed no sign of ending, despite face-to-face negotiations in Shanghai in July.

USA and Chinese negotiators are preparing for talks in October, later than initially planned, but neither side has given any sign of offering concessions that might break a deadlock over how to enforce a deal. Imports from the US slumped 22.4 per cent.

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Washington imposed new tariffs on Sept 1 as it stepped up its high-pressure campaign to coerce Beijing into a new trade deal.

The governments agreed to meet again in September but that was postponed to October. That would extend penalties to nearly everything the United States buys from China.

Washington and Beijing last Sunday imposed new penalties on billions of dollars of goods, and the Trump administration is expected to roll out more in October and December.

Many of these products now face tariffs when they arrive in the U.S.

As it stands now, only $50 billion of US -made goods sent to China are not being affected by the tariff penalties.

Chinese exports increased by 2.6 per cent, while imports fell by the same percentage.

China reported a trade surplus of $34.84bn last month, compared with a $45.06bn surplus in July. Trump has warned that if he is re-elected, China will face a tougher USA negotiating stance.

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