SWITZERLAND, AUGUST 8 – China’s exports to the U.S. in July fell 8% from a year earlier to $38.8 billion, according to customs data released on Thursday. It was the fourth straight month of decline, most of which came before the world’s two largest economies ratcheted up their economic conflict.
The country’s imports from the U.S. fell for an 11th successive month, to $10.8 billion, down 28%.
Washington has announced it will impose another round of tariffs on imports from China beginning in September. The retaliatory levies will be extended to almost all goods from China and will likely further stifle trade.
The fall in exports followed an 8% decline in June. Imports from the U.S. remained in a steep retreat, nearly 30%, which represents a slight easing from June.
The import trend indicates that China has replaced some American energy and agricultural products with alternatives from other countries.
China’s overall exports bucked projections and rose 3% in July, turning positive for the first time in two months. Imports fell 6% and have been declining for three months. China’s Purchasing Managers’ Index has been below the 50-point line separating expansion from contraction for three months, which indicates weak domestic demand.