China’s Export Growth Slows

China’s export growth slowed to 4.8% in May compared to last year, down from 8.1% in April, as ongoing trade tensions with the US continue to impact the economy. Exports reached $316.1 billion, while imports dropped 3.4% to $212.9 billion, resulting in a trade surplus of $103.2 billion, CE Report quotes Anadolu Agency

Exports to the US fell sharply by 34.5% in May, worsening from a 21% decline in April. Meanwhile, exports to ASEAN countries grew 14.8%, though slower than the 20.8% rise in April.

Trade negotiations between the US and China are ongoing, with officials meeting in London to ease tensions. Recent talks in Geneva led to a temporary tariff reduction, but US President Trump has accused China of violating the agreement and plans to discuss the matter with President Xi Jinping.