China's trade with the U.S. continues to decline significantly. High tariffs on imported goods are affected.
China's trade with the United States last month has dropped significantly due to the impact of high tariffs on each other's imports. The United States and China are expected to continue the bargaining efforts to reduce tariffs over partial agreements on trade issues.
According to last month's trade statistics announced by the Chinese customs authorities on the 8th, the combined trade and exports to and from the United States amounted to more than $ 45.1 billion, about 16% below the same month last year.
Of these, exports decreased by more than 16% and imports decreased by more than 14%.
Although the amount of trade decline has been smaller than in the previous month, trade between the United States and China has continued to decline significantly due to the effects of measures that add higher tariffs to each other.
The United States and China agreed last month on trade issues in some fields such as agriculture and finance, but it seems that they are continuing to drive over the reduction of tariffs that have been added to prepare formal documents. Negotiations will attract attention.
Meanwhile, China's total trade last month was $ 383.05 billion, down 3.4% from the same month last year.
Exports fell 0.9%, imports declined 6.4%, and shrinking trade with the United States is affecting China's overall trade.