China's trade with the United States is falling sharply as the two sides prepare for more negotiations with no sign of progress toward ending a worsening tariff war that threatens global economic growth.
China's politically sensitive trade surplus with the U.S. narrowed to $31.3 billion in August from $27 billion a year earlier.
Beijing says Trump's punitive tariffs must be lifted once an agreement takes effect. Washington says some must stay to ensure Beijing carries out any promises it makes. In their latest escalation, Washington imposed 15 percent tariffs on $112 billion of Chinese imports and plans to hit another $160 billion on Dec. 15. That would extend penalties to almost everything the United States buys from China.
U.S. tariffs of 25 percent imposed previously on $250 billion of Chinese goods are due to rise to 30 percent on Oct. 1.Beijing also has retaliated by canceling purchases of soybeans, the biggest single U.S. export to China.
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