Chinese imports drop amid trade war concerns

China in a digitized global economy - The Chinese flag extending from the top right increasingly become transparent on a world map. On this wiring of a computer map can be seen. - İllüstrasyon
Chinese imports drop amid trade war concerns

China’s imports saw a drop in May amid the economic dispute with the U.S. which intensifies concerns slowdown in the global economy. According to the official data by the customs administration, the country’s imports declined by 8.5% in May from a year earlier. The exports, in a surprise way, rose 1.1% compared to an expected decline, shipments to the U.S. fell for a second month. According to Nomura economists, “We expect export growth to remain positive in June, likely supported by continued front-loading of U.S.-bound exports, but it should then tumble in the third quarter, when we expect the threatened tariffs to be imposed,” said Nomura economists cited in media outlets.