But Monday’s better-than-expected export data is unlikely to ease fears that a longer and costlier US-China trade war may no longer be avoidable, pushing the global economy towards recession. While China is not as dependent on exports as in the past, they still account for nearly a fifth of its gross domestic product. Trump on May 10 slapped higher tariffs of up to 25 percent on $200 billion of Chinese goods and then took steps to levy duties on all remaining $300 billion Chinese imports. For January-May, China’s total exports rose just 0.4 percent from a year earlier, while imports declined 3.7 percent. MORE SUPPORT MEASURES EXPECTEDAs trade pressures intensify, analysts believe China will loosen policy further in months ahead to shore up economic growth.

Source: bd News24 June 10, 2019 05:03 UTC