Monday, 10 June 2019 10:31

China Exports Grow Despite US Tariffs

Written by PL
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China's exports unexpectedly returned to growth 4.1 percent year-on-year in the first five months of 2019, despite higher US tariffs, an official source reported on Monday.

 

Beijing.- According to figures released on Monday by the General Administration of Customs, in such a period the Chinese exports accounted for ¥12.2 trillion (about $2 trillion).

During the first five months of the current year, China's exports grew by 6.1 percent year-on-year, up to ¥6.5 trillion (about $1 trillion).

Imports, on the other hand, also boosted 1.8 percent over the same period of previous year, to ¥5.6 trillion (nearly $900 b), the General Administration of Customs reported.

Such figures come to light in after tightening trade frictions with Washington.

At the beginning of this month, Beijing imposed new tariffs on over five thousand US products worth about $60b, in response to a similar measure adopted by the White House at the beginning of last May.

Such a mutual import tariff imposition keeps trade frozen both nations had been developing with the aim of striking an agreement to put an end to their differences.

China's authorities have blamed the US President Donald Trump administration for the backlash in the talks and assured that the lack of respect for the international rules and "unfair trade" practices by Washington have brought about talk bottlenecks. (PL)

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