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China's exports to US tick up as traders try to beat tariffs

News Summed Up 2018-11-08 05:30:00

Growth in Chinese exports to the United States ticked up in October as traders rushed to beat another round of tariff hikes. Imports of American goods rose 8.5 per cent to USD 10.9 billion, decelerating from the previous month's 9 per cent. China's trade surplus with the United States narrowed to USD 31.8 billion from September's record USD 34.1 billion. Traders are rushing to beat a US tariff hike planned for January, ING economists Iris Pang said in a report. China's exports to the United States have been unexpectedly resilient since Trump started imposing punitive tariffs goods in July in a fight over Beijing's technology policy.