China’s Exports Rushed Ahead Higher US Tariffs Next Year

Exports came out better-than-expected in Octobers as companies hasten shipment to the United States with higher tariffs by next year, which their top trading partner.

On the other hand, imports slowed down compared to forecasts while Beijing implements counter-measures to higher tariffs of US next year.  

The positive readings from China give positive news to boost global demand which has raised concerns to some and the slowest growth of the country since the global financial crisis in the third quarter.

A month has passed since US tariffs on Chinese goods implemented starting September 24, reflecting an important escalation in the of escalating trade war.

However, analysts see the risk of sharp decline in the US demand for Chinese goods in early 2019 while everybody’s attentions are focused on the president of US and China and hopefully come to an agreement on their meeting this month.

Exports in China grew to 15.6 percent last month than a year ago. Customs data shown on Thursday, boosted from 14.5 percent in September, exceeding forecast of analysts by just 11 percent. Nevertheless, Oxford Economics showed a solid growth as it rose astonishingly by 9.9 percent. However, analysts say that export reading will just be transitory given slower export orders for some months.