BEIJING, Sept 8 (NNN-AGENCIES) – China’s exports fell in August by 1 per cent year-on-year amid a protracted trade war with the United States, official data showed on Sunday.
Exports fell to just over 214 billion dollars, while imports fell 5.6 per cent to just under 180 billion dollars, figures from the Beijing statistics office showed.
According to the figures, exports to the US took a particularly big plunge, dropping by 16 per cent to 37.3 billion dollars.
Many these products now face tariffs when they arrive in the US; China has also introduced import tariffs on US goods.
The trade war between the world’s two largest economies – now over a year old – is weighing on global growth.
Negotiations between Beijing and Washington are set to resume in early October, however neither side has backed off recently-imposed tariffs.
The US last week put into effect a 15-per-cent tariff on 112 billion dollars’ worth of Chinese goods, including televisions, books, nappies and sports shoes.
Meanwhile, Chinese tariffs of 5 and 10 per cent targeting around 75 billion dollars of US goods came into force.
NNN-AGENCIES
