China's exports probably fell for a second successive month while imports l...
BEIJING - China’s exports probably fell for a second successive month while imports likely contracted more sharply in July, a Reuters poll showed, hurt by tit-for-tat tariffs in a rapidly escalating trade war between the world’s two biggest economies.
If trade data due on Thursday are in line with economists’ downbeat forecasts or worse, it could increase the risks of a global recession and heighten concerns about a sharper-than-expected slowdown in China. Trump stunned financial markets last week by vowing to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1, abruptly breaking a brief ceasefire in a bruising trade war that has disrupted global supply chains and slowed growth.
After the yuan’s stumble, the U.S. Treasury Department ratcheted up tensions by determining for the first time since 1994 that China was manipulating its currency.
Singapore Latest News, Singapore Headlines
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