April 12, 2019

China imports from US slump

Guardian -The latest snapshot revealed that US imports [to China] plummeted by 28% during the first three months of the year, while exports to the US slipped by 3.7%.

Soy bean imports to China fell by more than 14% this year – a product on which Beijing slapped 25% tariffs for imports from the US after President Donald Trump put US tariffs on Chinese goods.

Car sales also fell by 5.2% on the year to March, continuing a trend for declining sales under way since last summer. Chinese car sales dropped last year for the first time in almost 30 years, in a negative development for European car manufacturers that have made China an increasingly important export market.

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