China imports from US plunge in June amid tariff war

China imports from US plunge in June amid tariff war

China also directed importers to find non-U.S. suppliers.

Exports to the USA fell 2.6% in yuan terms in the first six months this year from same period a year earlier, while imports shrank 25.7%, customs spokesman Li Kuiwen told reporters in a quarterly briefing. China's imports from the United States plunged 31.4 percent in June from a year earlier amid a tariff war with Washington, while exports to the USA market sank 7.8 percent, Customs data released this morning showed.

U.S. -Chinese trade has weakened since President Donald Trump started hiked tariffs previous year on goods from China in a fight over Beijing's technology ambitions.

"The data confirm our view that the high tariffs have a negative impact on the domestic economy", said Tao Wang, chief China economist at UBA AG in Hong Kong.

"We don't expect global growth to bottom out until next year".

Envoys talked by phone Tuesday in their first contact since Trump and Xi met in Japan, the Chinese Commerce Ministry said.

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"Macroeconomic indicators of growth, employment and consumer prices are all in normal ranges", said Liu, the top economic aide to President Xi Jinping and China's top negotiator in trade talks with the Trump administration, according to the official state-run Xinhua News Agency.

China's slowing economy gives President Xi Jinping little room to fight back forcefully against the USA - which is using tariffs as leverage to try to force Beijing into opening up its economy.

A date for face-to-face talks was not agreed during the call, although trade tensions between China and the U.S. remain high, given there has been little progress to resolve the conflict since the ceasefire was agreed.

On Thursday (July 11), Trump accused China of "letting us down" by not promptly buying more U.S. farm products.

But data released on Thursday (July 11) by the US Department of Agriculture indicate that China actually slowed its purchases of American agriculture products following the G-20 meeting. "While a deal makes sense for both sides this year, it's far from guaranteed and could hit many more snags". He pledged to help farmers largely impacted by the China-U.S. trade war and those whose crops were destroyed due to flooding.

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