On September 8, China’s tre with United States is falling sharply as two sides prepare for more negotiations with sign of progress towards ending a worsening tariff war that threatens global ecomic growth. Imports of U.S. goods fell 22% in August from a year earlier to $10.3 billion following Chinese tariff hikes and orders to companies to cancel orders, customs data showed Sunday. Exports to United States, China’s biggest market, sank 16% to $44.4 billion under pressure from punitive tariffs imposed by President Donald Trump in a fight over Beijing’s tre surplus and techlogy ambitions. Beijing is balking at U.S. pressure to roll back plans for government-led creation of global competitors in robotics and or industries. United States, Europe, Japan, and or tring partners say those plans violate China’s market-opening commitments and are based on stealing or pressuring companies to hand over techlogy.

Tariff hikes disrupt tres

U.S. and Chinese tariff hikes on billions of dollars of each or’s imports have disrupted tre in goods from soybeans to medical equipment and battered trers on both sides. Chinese exporters also face pressure from weakening global consumer demand at a time when Beijing is telling m to find or markets to replace U.S. China’s politically sensitive tre surplus with U.S. narrowed to $31.3 billion in August from $27 billion a year earlier. China’s global exports fell 3% to $214.8 billion, while imports were up 1.7% at $180 billion. For first eight months of 2019, exports were off 1% from a year earlier and imports were down 5.6%. China’s global tre surplus rose 25% from a year earlier to $34.8 billion. Exports to European Union rose 3% from a year earlier to $38.3 billion.

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U.S. and China to negotiate

U.S. and Chinese negotiators are preparing for talks in October, later than initially planned, but neir side has given any sign of offering concessions that might break a delock over how to enforce a deal. Beijing says Trump’s punitive tariffs must be lifted once an agreement takes effect. Washington says some must stay to ensure Beijing carries out any promises it makes. decision to go ahe with talks despite latest tit-for-tat tariff hikes on September 1 encourd global financial markets.

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U.S. and China escalations 

In ir latest escalation, Washington imposed 15% tariffs on $112 billion of Chinese imports and plans to hit ar $160 billion on December 15. That would extend penalties to almost everything United States buys from China. Beijing responded by imposing duties of 10% and 5% on a range of American imports. More increases are due on December 15 in line with U.S. penalties. U.S. tariffs of 25% imposed previously on $250 billion of Chinese goods are due to rise to 30% on October 1.

China has imposed or anunced penalties on an estimated $120 billion of U.S. imports. Some have been hit with increases more than once, while about $50 billion of U.S. goods is unaffected, possibly to avoid disrupting Chinese industries. Beijing also has retaliated by canceling purchases of soybeans, biggest single U.S. export to China. Chinese government has agreed to narrow its tre surplus with U.S. but is reluctant to give up development strategies it sees as a path to prosperity and global influence. Some analysts suggest Beijing is holding out in hopes Trump will feel pressure to make a more favorable deal as his campaign for 2020 presidential election picks up. Trump has warned that if he is re-elected, China will face a tougher U.S. negotiating stance.

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