China says “the sky will fall” when exports arise ahead of Donald Trump tariffs

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Last month, China’s exports grew in the speed of shipping before Donald Trump’s “Liberation Day” caused a full -scale trade war between the two largest economies in the world.

Exports increased by 12.4 percent in US dollars in March a year earlier, figures with ChinaThe customs administration showed on Monday, much higher expectations and the biggest growth since October. Imports decreased by 4.3 percent.

In March, the Trump administration had already imposed additional tariffs of 20 percent before the dramatic tit escalation, which raised the collection much higher than 100 percent of the goods with each other.

Handed out the trade war shocked international markets, world halls and shipbuilding affected cancellation of orders.

Last week Washington stopped sweeping “back” tariffs measures up to 125 percent.

Global stocks were Went on Monday After dramatic sales last week, with indicators in China, Hong Kong and Japan, which grow and futures for the US and European markets that indicate income later on this day.

“The sky will not fall,” the Chinese Customs Administration Press said on Monday. He pointed to the “huge” domestic demand and once again confirmed the wave of official comments that emphasize the country’s resilience.

China’s economy has greatly relied on export to support the growth of the real estate and poor internal consumption that fights for the revival. Last week, the government rushed to support the domestic stock market.

On Friday, the US stated Retaliation will only be temporary.

Speaking to journalists aboard the Air Force on Sunday night, Trump said he and his team would “talk to the companies” and that there would be flexibility “for some products” without pointing.

While marching data showed an export jump, economists expect another environment in the coming months in light of the trade war. Last week, Goldman Sachs reduced its valid GDP growth for China to 4 percent, with 4.5 percent, citing “sharply reducing exports to the US”.

“We believe that this can pass years before Chinese exports restores the current level,” said Julian Evans-Prechard, the chief Chinese economist in the capital economy, adding that “there are already signs of delivery that is redirected through third countries.”

Exports to the United States increased by 4.5 percent in March. But they grew more sharply in Southeast Asia, increasing 17 percent to Vietnam and 18 percent in Thailand. Both were aimed at high levels of tariffs in the US, which have since stopped.

The trading surplus in China from the United States, which Trump repeatedly referred to the justification of tariffs, amounted to $ 76.6 billion in the first quarter.

Chinese leader Xi Jinping visits VietnamThis week, Malaysia and Cambodia, where he seeks to strengthen the connections, and warned that the trade wars “would not produce winners”. Last week, XI was hosted by Spanish Prime Minister Pedro Sanchez in Beijing in the first significant diplomatic meeting after the tariff escalation.

Additional Arjuna Nile Alima and William Sandlund report in Hong Kong and Van Suaa in Shanghai