China's Trade Surplus With US Hits All Time High At Worst Possible Time
Zero Hedge -

Overnight China reported its June trade data, which showed that export growth moderated modestly from 12.3% Y/Y in May to 11.3% in June, above the 9.5% consensus, however imports decelerated meaningfully, sliding from 26.0% Y/Y in May to just 14.1% in June, well below the 21.3% estimate, which may be related to the imports tariff cuts on automobiles and selected consumer goods effective on July 1.

In sequential terms, exports increased 0.4% M/M, at the same pace as in May, while imports...

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