China's exports likely rose slightly in August as shippers raced to beat ne...
BEIJING - China’s exports likely rose slightly in August as shippers raced to beat new U.S. tariffs but imports contracted for a fourth straight month, a Reuters poll showed, pointing to further strains on the economy as the Sino-U.S. trade war intensifies.
China’s August exports are expected to have grown 2% from a year earlier, according to the median estimate of 28 economists in the poll, slowing from a 3.3% rise in July. “In our view, the impact of U.S. tariffs on Chinese external sector will likely kick in more notably in the fourth quarter,” analysts from Bank of America Merrill Lynch wrote in a note.
Economists at UBS estimate the latest escalation of tariffs from Trump will lead to another 30 basis point drag on China’s GDP growth in the following 12 months.
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