China's Trade Surplus Drops, Exports Shrink

Chinas October trade balance shows unexpected contraction, with exports dropping for the first time in 18 months. Exports fell by 1.1% year-on-year, marking the first monthly decline since March 2024. This comes amidst intensifying trade tensions between Washington and Beijing. However, a recent agreement guarantees Chinas rare earth exports to the U.S. for a year, with the U.S. reducing tariffs and China committing to more agricultural purchases. Despite this, Chinas imports also grew less than expected, indicating weak domestic demand and potential stimulus measures from Beijing.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.