China Shifting Trade Away From U.S. Toward EU and Asia
Summary by tradedatamonitor.com
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China Reconfigures Export Markets as Shipments to U.S. Plummet
U.S. Market Collapsing For China As Americans and Chinese officials scrambled to forge new politically acceptable trade terms, China reported a pandemic-level decline in exports to the U.S. Chinese shipments to the U.S. fell 34.4% year-on-year in May to $28.8 billion, the steepest drop since Covid-19 upended global trade in February 2020. Chinese imports from the U.S. fell 17.9% to $10.8 billion, suggesting that the world’s richest trading rela…
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