China's trade with US sinks in November amid tariff war
Beijing: China's trade with the United States sank again in November as negotiators worked on the first stage of a possible deal to end a tariff war.
Exports to the United States fell 23% from a year earlier to 35.6 billion, customs data showed Sunday. Imports of American goods were off 2.8% at 11 billion, giving China a surplus with the United States of 24.6 billion. Exports to some other countries including France rose, helping to offset the loss. China's global exports were off 1.1% from a year earlier at 221.7 billion despite weakening worldwide demand. Imports were up 0.3% at 183 billion, giving China a global surplus of 38.7 billion.
Hopes for a settlement to the fight over Beijing's technology ambitions and trade surplus rose after President Donald Trump's announcement of a Phase 1 agreement following talks in October. But there has been no sign of agreement on details nearly two months later.
The dispute has disrupted global trade in goods from soybeans to medical equipment and threatens to depress economic growth.