World trade: Despite the US decline: China’s exports grow strongly

Despite persistent global trade conflicts, China’s exports gave up more than expected in July. According to the Chinese customs authority, exports rose by 7.2 percent compared to the same month of the previous year. Analysts had expected lower growth in advance. With an increase of 4.1 percent, the imports also attracted more than expected.

However, the picture turned out differently depending on the trading partner: exports to the USA fell by 21.7 percent year -olds after a severe decline had already been recorded in June. However, Chinese companies were able to compensate for this break-in through increasing exports into other regions: deliveries to the European Union increased by 9.3 percent, those in the ten Southeast Asean countries even by 16.6 percent. Exports to Germany attracted 13.1.

No agreement between Washington and Beijing yet

The United States and China are currently in discussions about its long -term trade dispute. It is open whether there is an extension of a current customs break that actually ends on August 12th. Since April, the United States has gradually increased the import duties on Chinese goods up to 145 percent. China reacted to strategically important raw materials with counter -tariffs of up to 125 percent and imposed export controls. In May, both sides agreed on a 90-day suspension of the new tariffs.

The announcement of the US government ensures additional tensions to impose so-called secondary sanctions against countries that continue to trade with Russia.

US President Trump has already announced additional penalty tariffs from 25 percent on imports from India. China maintains even closer economic relations with Russia as India, but could be spared for the time being – also because the comprehensive customs discussions run with Beijing in parallel. New punitive measures would be considered a targeted provocation and negotiations.