The trade dispute between the US and China becomes a burden for the foreign trade of the People's Republic: compared to last year, exports fell surprisingly sharply in August – exports to the US by $ 37.3 billion.
Against the background of the trade war with the US, China's foreign trade is weakening in August. Exports from the second largest economy fell by one percent to $ 214.8 billion on an annual basis. Analysts, on the other hand, predicted an export gain of 2.0 percent for August, following a 3.3 percent increase in July.
The decline in exports to the United States was particularly strong and fell by 16 percent to $ 37.3 billion. Imports fell by 5.6 percent to $ 179.97 billion. This was reported by the Beijing Statistics Office.
Export surplus creates a dispute
Both states are subject to high punitive rates. The more than a year trade dispute led to Donald Trump's annoyance that China is exporting much more to the US than the other way around. He calls for the removal of market barriers, criticism of copyright infringement and forced technology transfer at US companies operating in China, as well as government subsidies.
Later, the US president also called for structural changes in China and mechanisms to ensure compliance with an agreement. But the leadership in Beijing goes too far. Trump's unpredictability also disrupts Chinese leadership.
New negotiations agreed
The trade war slows down economic growth in both countries and slows the global economy. Experts warn that the conflict could cause the US economy to fall into recession. New negotiations were agreed at the beginning of October.