China’s Export Growth Threatened By Renewed Trade Conflict

Benzinga

China’s exports rose 8.3% in September, beating forecasts, though U.S. shipments fell 27% amid tariff threats. Strong trade with Asia and Africa offset declines as Beijing braces for possible de-escalation talks at the Xi-Trump APEC summit.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03China's export growth accelerated in September, rising 8.3% from a year earlier,

00:08beating expectations of a 6% increase, according to Reuters.

00:13Renewed trade tensions between Beijing and Washington threatened to derail that momentum,

00:17with Trump warning of reinstating triple-digit tariffs in retaliation

00:20for China's new rare-earth export controls.

00:24Exports to the U.S. plunged 27%,

00:26while shipments to the European Union, Southeast Asia, and Africa surged,

00:30showing China's shift away from reliance on U.S. markets.

00:34Analysts at Nomura and ING said that while both sides are likely to seek de-escalation

00:39before a possible Xi-Trump meeting at the APEX summit later this month,

00:43the risk of miscalculation remains high.

00:46China's trade surplus narrowed to $90.45 billion from $102.33 billion,

00:51while imports jumped 7.4% on strong commodity and soybean purchases.

00:56For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended