China’s global trade grew 0.1% in Aug

China's exports fell by 1.0 percent on-year in August after a surprise 3.3 percent rebound in July despite the yearlong battle with Washington and weakening global demand

China's exports fell by 1.0 percent on-year in August after a surprise 3.3 percent rebound in July despite the yearlong battle with Washington and weakening global demand

August exports fell 1 percent from a year earlier, the biggest fall since June, when it fell 1.3 percent, customs data showed on Sunday.

China's global trade surplus rose 25 percent from a year earlier to $34.8 billion.

White House economic adviser Larry Kudlow said on Friday the United States wants "near-term" results from U.S.

China's exports unexpectedly fell in August as shipments to the U.S. slowed sharply, adding to worries about the effects of the two nations' trade war. Imports from the USA slumped 22.4 per cent. Chinese officials are set to attend trade talks in Washington next month in the hope of striking a deal and avoiding those increases.

Chinese demand, however, has been dampened by a year-old outbreak of deadly African swine fever in the world's top pig producer.

It still reached $195.45bn in the first eight months of 2019, highlighting continued imbalances which have been a core complaint of Trump's in his administration's negotiations with Beijing.

"The optimism from easing policies announced on Friday may be partially offset by the weak trade data as the economy still faces larger downward pressures", said Peiqian Liu, a China economist at NatWest Markets in Singapore.

China's politically sensitive trade surplus with the USA narrowed to $US31.3 billion in August from $US27 billion a year earlier.

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That led Washington to dub Beijing "a currency manipulator".

Treasury Secretary Stephen Mnuchin told reporters Monday how China is paying for tariffs after being asked whether he'd explained to President Donald Trump that China is not paying for the tariffs imposed by the U.S. -China trade talks in September and October, but cautioned the trade conflict could take years to resolve.

On Sept. 1, Trump imposed 15 percent tariffs on $112 billion worth of Chinese imports, with plans to tax another $160 billion beginning December 15 that would effectively impose penalties on almost everything the US buys from China. That would extend penalties to nearly everything the United States buys from China.

According to the figures, exports to the USA took a particularly big plunge, dropping by 16 per cent to $37.3 billion. Some have been hit with increases a few times, while about $50 billion of USA goods is unaffected, possibly to avoid disrupting Chinese industries.

The contraction came despite a persistent weakening of the yuan, and is evidence that exporters are not "front-loading" sales to try to beat oncoming higher tariffs.

Some analysts suggest Beijing is holding out in hopes Trump will feel pressure to make a more favorable deal as his campaign for the 2020 presidential election picks up.

"China is losing the 'Trade War" with the US, America First!

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