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Downtrend in China's export value to US slows in June

Downtrend in China's export value to US slows in June

NHK2 days ago
China's export value to the United States continued to fall in June from a year earlier. But it recovered ground from the previous month.
Exporters apparently rushed to ship out goods before the mid-August deadline for the two countries to work out their tariff deal.
Chinese customs authorities say US-bound shipments dropped 16.1 percent in dollar terms. That compares to a decline of 34.5 percent in May.
The value of imports from the US fell 15.5 percent in June. That was also a smaller drop than the previous month.
Washington and Beijing slashed their steep additional tariffs in mid-May. They agreed to halt some of them for 90 days and continue negotiations.
China's overall exports grew 5.8 percent last month, due to increased shipments to Southeast Asia and Europe. Imports rose 1.1 percent.
Many Chinese firms send components to Southeast Asia for assembly and ship the finished products to the US from those countries.
The practice could be affected by additional US tariffs on major economies in the region that are due to take effect on August 1.
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