Shipments to the US fell 21% from a year earlier after the imposition of duties earlier in April, according to data from the customs administration Friday. China’s tariffing of American goods meant that imports from the US fell almost 14% last month.
China’s exports rose more than forecast in April even as shipments to the US slumped sharply in the first month after President Donald Trump targeted its goods with tariffs above 100%.
The first official hard data after the trade war escalated captures only the initial damage from the prohibitive tariffs, with their effects likely to become more pronounced starting this month. The expectation of many analysts is that unless the levies come down, trade between the world’s two largest economies would eventually crumble after reaching almost US$690 billion ($895.73 billion) last year, decimating industries and raising prices for companies and consumers.
