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China’s exports grew last month but at a slower pace than in recent months, the country’s customs agency said Monday.
Exports reached US$321.8 billion in August, a 4.4 per cent increase compared to the same month last year. That was down from a 7.2 per cent jump in July. Meanwhile, imports totalled US$219.5 billion, a 1.8 per cent rise.
China’s large trade surplus has become a contentious issue with major trading partners including the United States and the European Union. Low-priced Chinese imports are a boon for consumers but can lead to job cuts in manufacturing.
In the first eight months of the year, China’s exported US$785.3 billion more in goods than it imported from other countries, the monthly customs data showed.
President of the United States Donald Trump has imposed 30 per cent in additional tariffs on imports from China since taking office early this year. He backed down from even higher tariffs after China retaliated with import taxes of its own. The two countries are in talks to try to reach a trade agreement.