Economists say the phenomenon can be mostly due to exporters benefiting via increased orders before the tariffs hit, nevertheless the figures are likely to show stress inside the months ahead.
The U.S. as well as also China imposed the latest round of tit-for-tat tariffs against each various other’s goods in September.
“With global growth likely to cool further inside the coming quarters as well as also US tariffs set to become more punishing, the recent resilience of exports can be unlikely to be sustained. Meanwhile, with policy easing unlikely to put a floor beneath domestic economic activity until the middle of next year, import growth can be set to slow further,” said Julian Evans-Pritchard, senior China economist at Capital Economics, a consultancy.
Even though the U.S. as well as also China don’t appear to be near a resolution in their trade discussions, the impact of U.S. tariffs on Chinese total industrial production will be limited, said Zhang Zhiwei, Deutsche Bank’s chief economist as well as also head of equity strategy for China.
If Trump imposes tariffs on yet another $267 billion of Chinese imports into his country, the Asian powerhouse’s exposure to the U.S. market would likely only be 2 percent of its total industrial production, according to a study by Zhang.
So China’s “focus currently can be to try to retain supply chains which support the rest of the globe” which make up 25 percent of the country’s total industrial production, Zhang told CNBC, citing the example of Apple iPhones exported to Europe.
— Reuters contributed to This kind of report.