China’s exports shot up unexpectedly in January because of a surge in exports to the European Union and Southeast Asia, and the front-loading of orders ahead of the Lunar New Year holiday.
Data from China’s General Administration of Customs released on Thursday showed that January’s exports rose 9.1 per cent from a year earlier, beating a median forecast of economists by Bloomberg, which had predicted a 3.3 per cent decline.
Exports to the European Union jumped 14.5 per cent in January from a year earlier, while exports to Asean improved by 11.5 per cent.
U.S. import and export prices both decreased in January, the U.S. Bureau of Labor Statistics reported Friday.
Prices for U.S. imports declined 0.5 percent in January, following a 1.0 percent drop the previous month and a 1.7 percent drop in November 2018. The 3-month drop was the largest decrease since the index fell 3.1 percent from July to October 2015.
trump & co still do not understand that there are always other countries ready to step up & fill the demand. China is definitely winning the trade war.
Canada is exporting less to the US while expanding markets in the EU under the CETA trade agreement. With CETA, 98% of EU tariff lines are now duty‑free for Canadian goods. Once CETA is fully implemented, the EU will have eliminated tariffs on 99% of its tariff lines.
Canada's top export to the EU is aluminum. Much cheaper to buy this product from Canada than the US due to trump's trade tariffs.
I am happy to see more UK products in the grocery stores that I remember from my childhood & visits to see family in England. I have had to bring them back with me, but now I am happy to see that they are on the grocery shelves.
I have found it very easy to substitute US products with either Canadian, Mexican or UK products.
