China suffers historic losses: Its exports to the US fall to record lows

Due to the heavy blow dealt by the high tariffs imposed by US President Donald Trump on the Chinese commercial sector, the percentage of exports from China to the United States fell to its lowest level in 20 years in the first quarter of this year.

According to the New York Times, data released by the US Department of Commerce on May 6 clearly demonstrated the impact of the trade war, with the value of goods exported from China to the United States in the first three months of this year reaching $102.7 billion. Imported goods from China in the first quarter accounted for only 11% of total US imports.

Trump's decision to impose tariffs on China in early April had a cascading effect across the supply chain. Since it takes weeks for products from Chinese companies and factories to be shipped across the oceans and reach the US market, the effects of the tariffs are likely to become more apparent over the summer.

Experts noted that the percentage of exports from countries with tariffs suspended for 90 days remains high, but for China, the effects of the additional tariffs imposed by the Trump administration in March are beginning to show.

Currently, both the United States and China have expressed a desire to negotiate a trade agreement to reduce tariffs. However, it remains unclear when this agreement will be implemented.