Chinese Exports Rise Despite Trump's Trade War
- 6 years ago
China's export market grew by 12.2% in July. This after Donald Trump slapped billions of dollars worth of tariffs on the country earlier that month.
The Trump administration instigated the tax on $34 billion worth of Chinese goods last month, citing " unfair trade practices." Business Insider reports that it is set to announce a second tranche of tariffs on $16 billion worth of products later this month.
Despite Trump's trade war, Beijing exported $215.5 billion in July,. This constituted a 12.2% rise on June's figures.
The reasoning behind the rise in Chinese exports is not clear. The yuan weakened dramatically in late June, which likely made exports cheaper.
The Trump administration instigated the tax on $34 billion worth of Chinese goods last month, citing " unfair trade practices." Business Insider reports that it is set to announce a second tranche of tariffs on $16 billion worth of products later this month.
Despite Trump's trade war, Beijing exported $215.5 billion in July,. This constituted a 12.2% rise on June's figures.
The reasoning behind the rise in Chinese exports is not clear. The yuan weakened dramatically in late June, which likely made exports cheaper.