China's exports unexpectedly shrank in April but imports surprised with the...
BEIJING - China’s exports unexpectedly shrank in April but imports surprised with their first increase in five months, painting a mixed picture of the economy as Beijing and Washington make a last-ditch bid for a trade deal before a hike in U.S. tariffs.
High-level Chinese and U.S. negotiators will meet in Washington in the next two days, as Beijing tries to avoid a sharp increase in tariffs on its goods ordered by President Donald Trump to take effect on Friday. “The outlook for Chinese exports is challenging. If Trump follows through on his latest tariff threats, we think this would drag down export growth by two to three percentage points,” Capital Economics said in a research note.
But after surprisingly strong March data from China, likely an early response to government support measures, initial April readings have been more subdued.
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