China’s Exports Accelerate Despite US Trade Tensions

Tagged with: #
October 12, 2018 3:52 am Published by
Chinese shipping containers being unloaded at the Port of Long Beach, in Los Angeles County last month.
Chinese shipping containers being unloaded at the Port of Long Beach, in Los Angeles County last month. Photo: mark ralston/Agence France-Presse/Getty Images

BEIJING—China’s exports strengthened unexpectedly in September despite its worsening trade dispute with the U.S., while the two countries’ trade gap hit a fresh high.

Total exports rose 14.5% from a year earlier, accelerating from a 9.8% increase in August, the General Administration of Customs said Friday. Economists polled by The Wall Street Journal had forecast an 8.8% growth in overseas shipments.

Imports were up 14.3% in September from a year earlier, slowing from a 20% increase the previous month but beating economists’ median forecast of 16.0% growth.

China’s total trade surplus widened to $31.69 billion from $27.91 billion the previous month, customs data showed. Economists had expected an $18 billion surplus.

Its trade surplus with the U.S. widened to $34.1 billion in September from $31.1 billion in August, according to Wall Street Journal calculations based on customs data, a fresh record high.

Since early July, the Trump administration has imposed tariffs on $250 billion of Chinese goods and Beijing has retaliated with punitive taxes on $110 billion of U.S. products.

Mr. Trump has also pledged to put more tariffs on an additional $257 billion of Chinese products, essentially subjecting all of the U.S.’s Chinese imports to such penalties.

Tags:

Categorised in:

This post was written by All Charts News

Comments are closed here.