China’s April export shrinks, but imports boom on fresh US tariff


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China’s April export shrinks, but imports boom on fresh US tariff

On Wednesday, the 8th of May 2019, Chinese official data had revealed that the country’s export had contracted in April, however, its import had posted a surprise upsurge after shrinking for five straight months in a row, orchestrating a mixed demonstration of China’s economy, as a next round tentative trade talk would begin tomorrow amid Washington’s threat to hike tariff to 25 percent from a previous 10 percent on $200 billions of Chinese imports.

The latest set of trade data released earlier on Wednesday’s (May 8th) Asia-Pacific trading hours, had largely been overshadowed by worries that the ongoing Sino-US trade war may escalate following Trump’s tariff hike announcement on last Sunday (May 5th).

According to multiple analysts, the latest round of trade talk due to set off by tomorrow (May 9th) would unlikely to put an end to this ten-month long saga, and a tariff hike on Chinese exports seemed to be likely rather than nearing a resolution that many analysts and US officials had forecasted last week.

Despite an exacerbating worry looming over the course of next round of trade talk, investors had been hoping that April’s China data might signal that the economy was steadying after four months of contraction, which eventually would ease worries of a cooling global growth.