Washington: Trade war between two of the world's top economies China and the United States continues. Amid these developments, China's trade with the US declined by more than ten per cent in August. Although the two countries are preparing to negotiate to resolve the mutual dispute, differences over tariffs are constantly deepening, which also poses a challenge to the growth rate of the global economy.
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According to the data released on Sunday, imports of American products into China decreased by 22.5 per cent during the month. China has increased its duty rates and has also asked companies to cancel orders, which has brought down its imports from the US. China has asked its exporters to explore options in other markets instead of the US. But due to weak global demand, they are facing problems in this.
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China's global exports declined by three per cent in August. China's global exports rose to 12.2 per cent in July. US and Chinese negotiators are preparing for talks in October. China's trade surplus and its technology development strategy will be discussed in the meeting. Both sides have not yet indicated any relaxation to end this impasse.
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