China's Trade Dynamics: Exports Rise Amid US Challenges
China's exports increased by 4.8% in May, falling short of expectations due to decreased shipments to the US. Imports dropped 3.4%, resulting in a trade surplus of $103.2 billion. US-China negotiations continue, aiming to mitigate tariffs and enhance trade relations.
- Country:
- China
China's export growth in May reached 4.8% compared to the previous year, as reported by customs officials. This rise was less than anticipated, attributed to a significant reduction in shipments to the United States, which fell by nearly 10%.
Meanwhile, imports into China decreased by 3.4% on a year-on-year basis, leading to a trade surplus of $103.2 billion. Exports to the US amounted to $28.8 billion, while imports from the US also saw a decline of 7.4% to $10.8 billion.
Despite earlier promising figures in April, where global exports surged 8.1%, trade momentum slowed in May. The next phase of US-China trade discussions is scheduled to occur in Britain, striving to ease tensions and postpone further tariff hikes.
(With inputs from agencies.)
Google News