Chinese foreign trade exceeds expectations in September despite Trump's tariffs
Exports to the U.S. rose to $34.3 billion last month, up 8.6% from August’s $31.6 billion.
Cargo ships at the Kwai Chung terminal, Hong Kong.
China's foreign trade grew at a faster-than-expected pace in September amid fears of escalation in the tariff war between Washington and Beijing.
According to the General Administration of Customs, Chinese exports rose 8.3% year-on-year in September, surpassing Bloomberg's forecast of 6.6 %. Imports grew 7.4 %, exceeding the agency's estimate of 1.9 %.
Exports to the United States
Exports to the U.S., the world's largest consumer market, rose to $34.3 billion last month, data showed. The figure represented an 8.6% increase from August's $31.6 billion.
A possible worsening of the trade war
Concerns of a worsening trade war between Washington and China surged over the weekend after President Trump threatened to impose additional 100% tariffs on Chinese imports.
China's communist regime criticized the move, calling it "a typical example of double standards." On Sunday, however, the president struck a more conciliatory tone on Truth Social stating that the U.S. "wants to help China, not hurt it."
China's communist regime criticized the move, calling it "a typical example of double standards." On Sunday, however, the president struck a more conciliatory tone on Truth Social stating that the U.S. "wants to help China, not hurt it."
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