Chinese exports to the US fell more than 21%

Due to the tariff war, China's exports of goods to ASEAN countries have skyrocketed. Photo: CFC

China’s shipments to the U.S. fell more than 21% in April from a year earlier, while imports fell nearly 14%, according to CNBC calculations. China’s shipments to the U.S. rose 9.1% in March as exporters rushed to place orders before tariffs increased.

According to official figures, in the first four months of this year, China's exports to the US fell 2.5% while imports fell 4.7% compared to the same period last year.

US President Donald Trump has imposed a 145% tariff on imports from China, which has retaliated with a 125% tariff on US imports. So far, both sides have sought to soften the economic impact of the triple-digit tariffs by exempting some key products.

Container ship arrivals from China to the US fell sharply in late April, Raymond Yeung, chief economist for Greater China at ANZ Bank, said in a May 8 note. In recent weeks, Chinese authorities have stepped up stimulus efforts to counter the impact of tariffs on the economy, including monetary policy easing and measures to support businesses affected by tariffs.

China's manufacturing activity fell to a 16-month low in April, with a gauge of new export orders falling to its lowest since December 2022.

There are growing concerns that the fallout from tariffs will soon spill over into the job market, with Goldman Sachs estimating that China could lose 16 million jobs, or 2% of its workforce, involved in manufacturing goods exported to the U.S. Investors will be closely watching an upcoming meeting between U.S. and Chinese officials in Switzerland later this week, which has raised the prospect of a possible de-escalation in the ongoing trade war.

The planned meeting would mark the first high-level trade talks between the world's two largest economies since the latest tariff escalation in April.

(According to CNBC)

Source: https://hanoimoi.vn/luong-hang-trung-quoc-xuat-khau-sang-my-giam-hon-21-701723.html