China\'s exports beat forecast to rise as trade war heats up

China's exports beat forecast to rise as trade war heats up

AFP  |  Beijing 

China's exports beat gloomy forecasts to rebound in May though imports sank more than expected as the trade war with the heats up, official data showed Monday.

But Chinese exports to the world bounced back to rise 1.1 per cent last month after falling 2.7 per cent in April, according to customs data.

Analysts surveyed by had forecast a 3.9 per cent drop.

Imports, however, plummeted 8.5 per cent after rising 4.0 per cent in April.

The trade surplus surged to USD 41.7 billion in May compared with USD 13.8 billion the previous month.

Trade talks between the and have stalled while the two countries have threatened to slap more sanctions on each other.

Trump has blacklisted Chinese and warned that he could impose tariffs on nearly all remaining products from China, worth more than USD 300 billion.

responded to Trump's latest tariff hike by increasing levies on USD 60 billion in US products on June 1.

is also preparing its own blacklist of "unreliable" companies and has suggested that it could halt exports of rare earths -- key to the production of many high--- to the

Trump is expected to meet Chinese at the summit in at the end of the month.

said at a meeting of Saturday that any potential deal with will wait until the two presidents meet later this month, but was ready to impose new tariffs if talks fail.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 10 2019. 09:40 IST