HONG KONG: China&#39;s exports to the United States fell 27% in September from the year before, even though growth in its global exports hit a six-month high.&nbsp;Customs figures released Monday showed that China&rsquo;s worldwide exports were 8.3% higher than a year earlier, at $328.5 billion, surpassing economists&rsquo; estimates. That was markedly better than the 4.4% year-on-year increase in August.&nbsp;Imports grew 7.4% last month, significantly better than a 1.3% increase by year in August, although a weaker domestic economy and a real estate sector downturn continue to weigh on demand and consumption.&nbsp;China&rsquo;s exports to the United States have fallen for six straight months. In August they dropped 33%.&nbsp;The outlook is cloudy as a truce between Beijing and Washington unravels and both sides hit out with new tariffs and other retaliatory measures.&nbsp;As exports to the United States have come under pressure from US President Donald Trump&#39;s policies aimed at trying to get manufacturers to shift factories to America, China has expanded markets for its products in other regions.&nbsp;Shipments to Southeast Asia grew 15.6% year-on-year in September. Exports to Latin America and Africa were up 15% and 56%, respectively.&nbsp;&ldquo;China&rsquo;s exports continue to show resilience given the low costs and limited choices for replacement globally despite the higher tariffs,&rdquo; said Gary Ng, a senior economist at Natixis.&nbsp;Tensions with the US reignited Friday after Trump threatened an additional 100% tariff on Chinese goods and export controls on &ldquo;critical&rdquo; software.&nbsp;That came after China announced it would hit American ships with new port fees in response to a US plan to impose port fees on Chinese vessels docking in the country. Beijing also extended export controls on lithium-ion batteries and on exports of rare earths and related technologies.&nbsp;The friction could jeopardize plans for a meeting between Trump and Chinese President Xi Jinping in late October. It also suggests a lack of progress in efforts to forge a broad trade agreement between the world&#39;s two biggest economies.

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China's exports to the US sink nearly 30% in September as trade truce unravels with new threats of higher tariffs.

Articles tagged with "China exports to US"

China's US exports drop 30% as tariff tensions rise

China's US exports drop 30% as tariff tensions rise