"China's export growth slowed to the lowest in six months in August, as Beijing shipped less to the US amid tariff tensions. Exports from China rose by 4.4% year-on-year, according to official figures, less than economists had expected, and down from July's better-than-expected 7.2% increase. Imports grew by 1.3%, down from a 4.1% rise in July. Beijing's shipments to the US fell by 33% while exports to southeast Asian nations rose by 22.5%."
"The US president delayed sweeping tariffs on China in mid-August, announcing another 90-day pause just hours before the last agreement between the the world's two largest economies was due to expire. Trump had threatened tariffs on China as high as 245%, with China threatening retaliatory tariffs of 125%. However, Chinese imports are subject to a a baseline tariff of 10% and a 20% extra levy in response to fentanyl smuggling allegations against China."
China's export growth slowed to a six-month low in August, with exports rising 4.4% year-on-year, below expectations and down from July's 7.2% increase. Imports rose 1.3%, slowing from July's 4.1% gain. Beijing's shipments to the US fell 33% while exports to southeast Asian nations grew 22.5%, prompting policymakers to encourage manufacturers to pivot to other markets amid US tariff uncertainty. The US delayed sweeping tariffs in mid-August with a 90-day pause. China's trade surplus increased to $102.3bn from $98.2bn. Germany's exports fell 0.6% in July and imports fell 0.1%, while industrial production rose 1.3%. Opec+ agreed to raise output more slowly from October, lifting oil prices.
Read at www.theguardian.com
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