The trade war with the USA is having a severe impact on china’s economy. China’s overall trade in goods fell by four percent in june.
The mutually imposed punitive tariffs alone are causing trade between the two major economies to plummet by more than 13 percent, according to the chinese customs service in peking this friday. China’s imports from the u.S. Again suffered a massive 31.4 percent drop in u.S. Dollar terms compared to the same month last year (may: 29.6 percent). Chinese exports to the USA continued to fall sharply by 7.8 percent (may: 8.4 percent).