China’s exports to the United States dropped by 35% in May compared to the same period last year, according to new customs data. This decline adds pressure on China, the world’s second-largest economy, as trade negotiations with Washington were set to begin in London. China’s total exports increased by 4.8% last month, slowing from an 8.1% year-on-year rise in April. Imports fell by 3.4% year-on-year, resulting in a trade surplus of $103.2 billion. Despite the decline in exports to the U.S., exports to Southeast Asia and the European Union remained strong, growing by 14.8% and 12%, respectively. Analysts suggest that the acceleration of exports to other economies has helped China maintain relatively stable exports amidst the trade war. However, with tariffs likely to remain high and Chinese manufacturers facing constraints, export growth is expected to slow further by year-end.
— new from AP News
