China’s shipments to the U.S. plunged 33% in August while overall exports growth slowed to its weakest level in six months, as President Donald Trump’s policy targeting transshipments weighed on exports and businesses’ frontloading activity lost momentum.
Imports from the U.S. also dropped 16% from a year ago, customs data showed.
China’s total exports climbed 4.4% in August in U.S. dollar terms from a year earlier, customs data showed Monday, marking their lowest growth since February while missing Reuters-polled economists’ estimates for a 5.0% rise.
That growth slowed from the prior two months, in part reflecting the statistical effect of a high base last year when China’s exports grew at their fastest pace in nearly one-and-a-half years.
Imports rose 1.3% last month from a year ago, missing Reuters estimates for a 3% growth. Imports rose for a third straight month after returning to growth in June, albeit still muted due to the persistent real estate slump, rising job insecurity, among other things.
