The Trump administration’s trade war is ravaging exports to China across the U.S. and well beyond the farm belt, new data from the U.S.
each saw drops of about 25%. Product exports to China from the U.S. as a whole dropped 15% to $78.8 billion., but still saw its outbound shipments drop 8%.“Chinese demand for imports overall has been weak,” said Brad Setser, senior fellow for international economics at the Council on Foreign Relations. The recovery time for various U.S. products will depend on the nature of the trade deal, he said.
China has struck back in the trade war by imposing duties on about $135 billion of U.S. goods, targeting farming products such as soybeans and pork, motorcycles, cosmetics and wigs. With talks underway for a phase-one deal, Beijing has re-upped its demands for the removal of tariffs that the U.S. has put on $360 billion of Chinese imports., which represents American companies doing business in China.
Similarly, South Carolina’s sales to China jumped 30% through September, partly on airplane exports. Some Boeing Co. 787 Dreamliner planes are made in the state, and
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