US-China trade up 33.3 percent in first 10 months of 2021: Chinese customs – Community News
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US-China trade up 33.3 percent in first 10 months of 2021: Chinese customs

Amid ongoing tensions between the two world powers, trade between the United States and China increased by 33.4 percent in January-October this year compared to the same period in 2020. Despite this increase in trade, China’s trade growth grew by The United States. according to China’s General Administration of Customs slowed in October compared to September.

US-China trade totaled $609.939 billion in the first ten months of 2021, the Xinhua news agency reported citing Chinese customs officials. China’s exports to the US rose 31.7 percent over the period to reach $465.305 billion, while US exports to China increased 39 percent to $144.634 billion, according to data quoted by the Chinese agency.

Tian Yun, former vice director of the Beijing Economic Operation Association, told China’s Global Times that China’s macro-regulatory policies for the domestic economy and real estate sector resulted in slower growth in investment and consumption, leading to a decline in US imports. He said the global economy is suffering from supply chains. That country that could stabilize domestic supply chains and boast a large share of the global value chain will outperform in foreign trade, he noted.

Last year, trade between the US and China rose 8.3 percent to $586 billion, despite the Covid-19 pandemic and trade disputes. (ANI)

(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)