Isn’t everything ‘Made in China’?
Not anymore… because the country’s exports have been slowing down steadily amidst a trade-war with the United States. Chinese exports have gone from 12% in July to 10% in August, and things are not looking so great going forward. US President Donald Trump is ready to put another $267 billion worth of tariffs on Chinese products.
There are already lots of tariffs… and such a move by Trump would push new taxes on the $505 billion worth of goods the US imported from China last year. With slowing growth in exports coming from the European Union and Japan – can China really afford this?
Meanwhile in the United States… exports were at a record-high. But don’t get too excited as many companies were just trying to beat the next round of tariffs. And the United States is still largely indebted to China which is a critical issue in the trade spat. It looks like more trade-fun is in-store for the fall!