In targeting China’s export machine, President Trump seems to have hit the country’s imports. Chances that growth will slow further, or the yuan will sink below the totemic level of seven to the dollar—or both—are rising. China’s May trade data, released Monday, gives markets their first glimpse of how shipments are holding up in the wake of the White House’s latest tariff increase on Chinese goods, instituted on May 10. Exports were up 1.1% on the year, better than April’s 2.7% decline, but some of that probably reflected...

Source: Wall Street Journal June 10, 2019 10:52 UTC