U.S. Imports from China Plunge As Other Emerging Markets Fill The Gap

From schwab.com

Last week, the April U.S. trade report revealed that overall U.S. imports are basically unchanged from the end of last year, but imports from China have plunged. Let’s take a closer look at China’s loss and which countries may be benefitting. U.S. imports from China typically rise by $6 billion in the first four months of the year, based on the five year average. But this year, they fell over $20 billion. This plunge in imports happened before the new U.S. tariffs on Chinese made goods took effect in May. China’s loss seems to have been a gain for other emerging markets not subject to the tariffs, according to ... (full story)