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Chinese foreign trade at half mast

2019-07-12T15:52:11.506Z

The effects of the trade war between China and the United States are beginning to be felt on the side of Beijing. Chinese customs have indeed unveiled the foreign trade figures for the month of June, and they are bad: ...


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China's exports and imports fell sharply in June, amid a tighter trade war with Washington. View of Qingdao Port in eastern China. Reuters

The effects of the trade war between China and the United States are beginning to be felt on the side of Beijing. Chinese customs have indeed unveiled the foreign trade figures for the month of June, and they are bad: exports fell 1.3%, and 7.3% for imports. The growth forecasts for 2019 already suggest a new low for thirty years, at 6.2%.

The economic clash has never been so violent. In May, Donald Trump raised tariffs from 10 to 25% on $ 2 trillion worth of Chinese goods.

In addition to this American load, Chinese demand has also declined, in a context of ever higher prices. China is bringing in fewer raw materials, equipment and consumers buying less imported fashion products.

Sign of this slowdown, Chinese ports see fewer and fewer boats. And the cargo ships should not be more numerous this summer, according to the forecasters.

► To read also: [Infographic] China-US trade war in five episodes

The announcement of the Chinese customs intervenes in full "tedration" of the Sino-American relations, in the absence of warming. Negotiators from both countries spoke this week, to resume discussions that have been interrupted since May. In case of further failed talks, the US president could expand the number of Chinese products taxed to 25%. This new commercial assault would further threaten China's growth.

To read also: Commercial War: Americans and Chinese, all losers

Source: rfi

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