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Domestic Shipping
China trade unfazed by Trump tariffs as cargo volumes continue usual rise
Date:2018-09-11 Readers:
THE China trade, statistically speaking, appears unfazed by growing Sino-American trade tension, as little seems to disturb the usual upward trajectory of cargo volumes between the two, says a commentary in Forbes magazine.

Total trade activity climbed 12.9 per cent on an annual basis in August in yuan terms, up from 12.5 per cent in July. China's trade surplus with the US reached a record US$31 billion in August and is now $301 billion this year.

"So far, China trade to the US knows no bounds. In fact, the US is faced with a record deficit with the Chinese," said Forbes senior contributor Kenneth Rapoza in his commentary.

"Companies, meanwhile, are shipping back and forth like crazy to avoid tariff lock-in dates, and the US economy is so hot that even the #resistance at The New York Times admitted it this week that there were at least three reasons for optimism," he said.

Total trade activity climbed 12.9 per cent on an annual basis in August in yuan terms, up from 12.5 per cent in July. That marked the 22nd month of growth, Panjiva research analysts said.

This is not because of a weaker yuan, according to S&P Global Market Intelligence. In dollar terms, total trade grew 14.3 per cent including an export expansion of 9.8 per cent, which beat market expectations of 7.8 per cent.

Many trade war watchers believe we are in the early innings of this. A rising US stock market and a bear market in China may give Trump the impression that he is winning. There is still more game to be played, he said.
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