China imports from US plunge 31% in June amid tariff war

[DonViejo]

Source: Associated Press


By JOE McDONALD
2 hours ago

BEIJING (AP) — China’s trade with the United States plunged in June amid a tariff war with Washington over Beijing’s technology ambitions that has battered exporters on both sides.

Imports of U.S. goods fell 31.4% from a year earlier to $9.4 billion, while exports to the American market declined 7.8% to $39.3 billion, customs data showed Friday. China’s trade surplus with the United States widened by 3% to $29.9 billion, potentially giving its critics ammunition to demand Washington take a hard line with Beijing.

Presidents Donald Trump and Xi Jinping agreed in June to resume talks on the fight over U.S. complaints about Beijing’s trade surplus and plans for government-led development of technology industries. That helped to calm financial markets but economists say the truce is fragile because the conflicts that caused talks to break down in May persist.

Trade has weakened since Trump started hiking tariffs on Chinese goods last June. Beijing retaliated with its own penalties and ordered importers to find non-U.S. suppliers.


Read more: https://apnews.com/4afbfcaa2df3405b8257ad9502609886

[Roy Rolling]

1. A Harder Line?

“potentially giving its critics ammunition to demand Washington take a hard line with Beijing”

After the trade deficit INCREASED and the first hard line didn’t work, they now want to draw another hard line.

[Takket]

3. Okay.... I'm glad I'm not the only person that read that

And thought it didn’t make sense. How does making the trade deficit WORSE equate to drumpf having a mandate for MORE tariffs?

[pampango]

7. If you believe in the 'magic' of tariffs, then you impose them and they don't work ...

you double down and raise tariffs even higher - in the belief that will make the ‘magic’ happen.

That’s what republicans like Coolidge and Hoover did in the 1920’s. Didn’t work then and FDR came in and reversed the tariff increases.

Still the perceived ‘magic’ of tariffs lives on.

[Takket]

8. so if i just push down harder on the BRAKE, my car will go faster?

[pampango]

9. I think it's more that true believers like Trump think tariffs are a 'gas pedal' and

have a hard time accepting the reality that tariffs are a ‘brake’ instead. They keep pushing it harder and harder but the far still does not go.

[keithbvadu2]

2. So who is our super duper negotiator? The one who can fix it all.

So who is our super duper negotiator? The one who can fix it all.

[Mr.Bill]

5. There are at least 20 of them.

They are known as the Democratic presidential candidates.

[CountAllVotes]

4. Ah yes, The Stable Genius hard at work!

DUMP tRUMP!!!!!!

& recommend!!

[Bengus81]

6. Shucks....hope that isn't a load of farm products from Trump voters!

No wait,hope it is. Thoughts and prayers..............