China-US trade drops by 14.9% in 10 months: Chinese Customs

Source :ANI
Author :ANI
Last Updated: Fri, Nov 8th, 2019, 19:55:40hrs
China-US trade drops by 14.9% in 10 months: Chinese Customs
Beijing [China]: The US-China trade decreased by 14.9 per cent in the first 10 months of 2019 as compared to the same period in 2018, totaling USD 447.83 billion, the data of the Chinese General Administration of Customs showed on Friday.

From January-October, Chinese exports to the United States dropped by 11.3 per cent to USD 347.79 billion, while imports from the United States to China saw a 25.4 per cent decrease year-on-year, reaching USD 100 billion only, the data showed.

China bought USD 9.37 billion worth of goods from the United States in October, while it exported USD 37.8 billion worth of goods to the United States.

The world's two leading economies have been engaged in a trade spat for over a year over what US President Donald Trump deemed unfair economic conditions and non-competitive behaviour from China.

China has denied such claims, saying that the trade row is not beneficial to either side or the world economy. The standoff translated into tit-for-tat hiking of tariffs in imported goods between the countries.