According to data from China's Ministry of Transport, total cargo carried at ports reached 5.75 billion tons in the January-April period. In the same period, container transportation was recorded as 110 million TEU.
Even in April, when the trade war was clearly felt, the amount of cargo transported increased by 4.8% compared to the same month last year. This performance points to China's resilience in global trade dynamics.
On the other hand, China's exports increased by 8.1 % in April compared to the same period last year.
Tariffs escalate on the US-China front
Tensions on the trade front continue to rise. On April 2, US President Donald Trump announced additional tariffs on some trading partners, including China. As Beijing retaliated to this step, the “tariff showdown” between the two countries began.
Washington raised its tariffs on China to 145%, while China imposed a 125% tariff on products imported from the US.
While the US postponed tariffs on other countries for 90 days, tariffs on China went into effect immediately.
As part of efforts to ease trade tensions, US and Chinese officials sat down at the negotiating table in Geneva, Switzerland on May 10-11. The parties agreed to temporarily reduce their mutually-imposed tariffs for 90 days.
Accordingly, as of May 14, the US tariff on Chinese goods was reduced from 145% to 30% and China's tariff on US goods was reduced from 125% to 10%.
However, even this temporary compromise has not escaped controversy. On May 30, US President Donald Trump accused China of violating the 90-day temporary agreement. Trump stated that he would discuss the issue with Chinese President Xi Jinping and expressed his hope that the problem would be resolved.
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