US-China Trade Saw Decline In First Three Quarters Of 2019 - Chinese Customs

BEIJING (UrduPoint News / Sputnik - 14th October, 2019) The trade between the United States and China in the first three quarters of the year has fallen by 14.8 percent compared to the same period last year, according to Chinese customs officials.

Amid the ongoing trade war between the world's two largest economies, altogether trade volume between January and September came in at $402.65 billion, according to the data released by the General Administration of Customs.

Goods imported into from China into the US, the subject of the strictest new tariffs, fell by 10.

7 percent, making up a total of $311 billion, while US goods imported into China fell by 26.4 percent and amounted to $90.66 billion, over the same period as last year.

The wide trade deficit between the US and China was one of the main points of contention that drove US President Donald Trump to impose strict tariffs on Chinese goods entering the US last year.

A recently announced tentative trade deal and the delay of new tariffs on China has lifted spirits on Wall Street and increased hopes that the 15-month trade war may come to an end.