PEKIN (Reuters) – China exports increased over a year by 4.8% in May while imports fell by 3.4%, according to customs data published Monday, in a context of high trade tensions between Beijing and Washington.
Economists interviewed by Reuters had scheduled a 5.0% increase in exports and a decline of 0.9% of imports.
In April, Chinese exports had jumped 8.1% despite the entry into force of customs duties of 145% imposed by US President Donald Trump on Chinese products.
Most of these surcharges, as well as China’s retaliatory customs duties on American products, were suspended in mid-May for 90 days after a commercial truce concluded in Geneva between the two countries.
The first two global economic powers, however, are still in conflict on essential commercial issues, such as the restrictions imposed by China on rare earth exports and the United States control of flea exports to China.
(Written by Yukun Zhang and Ryan Woo; Blandine Hénault)
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