China imports from abroad therefore declined by 3.4 percent in May. As a result of stagnating internal demand and growing economic pressure on the second largest economy in the world.
The decline in imports was significantly stronger than expected. In a survey of economists by the Bloomberg business agency, they had expected a minus of 0.8 percent. In April he was 0.2 percent.
US President Donald Trump had imposed a total of 145 percent against China in early April, Beijing reacted with high counter-tariffs. In mid -May, the two countries then agreed on talks in Geneva to reduce the surcharges for 90 days to enable negotiations.
A new round of negotiations in London is planned for Monday. The Chinese delegation is led by Vice HE HE Lifeng, the US delegation includes the Minister for Finance and Trade, Scott Bessent and Howard Lutnick, as well as Trump’s trade officer Jamieson Greer.
Trump and China’s head of state XI Jinping had led their first telephone call in Trump’s second term on Thursday. The US President subsequently said that the conversation about an a half hour was “very good”. Trump later explained to the new round of negotiations in his online network work Truth Social: “This meeting should go very well.”
