The Latest: China’s August imports from US fall 22.5%
BEIJING (AP) — The Latest on China’s trade data (all times local):
China has reported that August imports from US fall 22.5% amid a tariff war with Washington, while exports to US fall 16%.
Chinese customs data reported Sunday shows imports of U.S. goods fell to $10.3 billion following Chinese tariff hikes and orders to companies to cancel orders. Exports to the United States sank to $44.4 billion.
Chinese exporters also face pressure from weakening global demand at a time when Beijing is telling them to find other markets to replace the United States.
China has reported its exports sank 3% in August amid a tariff war with Washington, while imports rose 1.7%.
The export weakness reported Sunday was a reverse from July’s 12.2% growth.
The customs agency reported China’s global exports for the first eight months of 2019 were off 1% from a year earlier.
Chinese exporters also face pressure from weakening global consumer demand.