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China sales to US slump even as exports beat forecasts amid trade war

From channelnewsasia.com

China on Friday (May 9) said sales to the United States slumped last month while its total exports topped forecasts, as Beijing fought a gruelling trade war with its superpower rival. Trade between the world's two largest economies has nearly skidded to a halt since US President Donald Trump imposed various rounds of levies on China that began as retaliation for Beijing's alleged role in a devastating fentanyl crisis. Tariffs on many Chinese products now reach as high as 145 per cent - with cumulative duties on some goods soaring to a staggering 245 per cent. Beijing has responded with 125 per cent tariffs on imports ... (full story)

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  • Category: Fundamental Analysis