Data from shipping companies has revealed that between April and June of 2018, US imports of Chinese products grew by 10% YoY as companies rushed to beat the $34bn worth of sanctions on Chinese goods. After the tariffs came into effect in July, however, imports of the affected products fell by 21% compared to 2017. Similarly, US imports of Chinese steel and aluminium fell 53% YoY after the US tariff was imposed on those metals in March. The latest data also shows a sharp drop in exports for China since last year.
Data from shipping companies has revealed that between April and June of 2018, US imports of Chinese products grew by 10% YoY as companies rushed to beat the $34bn worth of sanctions on Chinese goods. After the tariffs came into effect in July, however, imports of the affected products fell by 21% compared to 2017. Similarly, US imports of Chinese steel and aluminium fell 53% YoY after the US tariff was imposed on those metals in March. In September, using Accenture's analysis of freight and shipping data, the DHL Global Trade Barometer reduced its Chinese trade outlook to 59.