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To five billion dollars: trade between China and the USA continued to decline

2019-08-08T06:58:09.407Z

TIME ONLINE | News, backgrounds and debates



Beijing (AP) - Trade between the US and China weakened again in July. Against the background of the customs dispute between the two largest economies, China's exports to the US fell by 6.5 percent compared to July last year.

Imports declined 19 percent in US dollars, according to figures released on Thursday by the Beijing Customs Authority. Thus, the trade volume of both states fell by more than five billion dollars.

Despite the continuing strain of the trade dispute, China's foreign trade performed better than expected overall in July. Total exports increased by 3.3 percent. Imports declined by 5.6 percent.

For a year now, the US and China have fought a bitter trade war, which not only slows growth in the US and China, but also harms the global economy. Trump's anger was that China exported far more to the US than vice versa.

He calls for an elimination of market barriers, criticizing copyright infringement, forced technology transfer and state subsidies. Since then, Trump has garnered half of China's imports with 25 percent special tariffs. China responded with counter-duties. In the latest escalation step, Trump announced last week that it intends to punish all Chinese imports with punitive tariffs. China announced that it would stop buying US agricultural products for the time being.

Source: zeit

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