Trade war greatly reduces trade turnover between US and China

08.09.2019, Beijing.

Due to the trade war, the trade turnover between China and the United States in August has declined significantly, The Associated Press reported on September 8.

It is noted that in August imports from the US to China dropped by 22.5% down to $10.3 billion, while exports from China to the US decreased by 16% down to $44.4 billion.

The reasons for this are the so-called tariff wars between Beijing and Washington.

Overall, Chinese exports decreased by 3% in August, while imports increased by 1.7%.

At the same time, the US and China plan to continue negotiations on trade-related issues in October. However, it is noted that none of the parties has offered any options to resolve their crisis so far.

The open economic confrontation between the two countries began in January 2018. The mutual exchange of tariff increases on different groups of goods led to a drop in stock indexes for both countries. According to experts, the prolongation of the US and Chinese trade war threatens the entire global economy.

Source: Rossa Primavera News Agency

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