U.S. imports from China that month totaled 4.2 million metric tons, according to IHS Markit data compiled by Bloomberg. That’s the smallest tonnage of goods since 2015 when the dataset begins.
February marked the peak of coronavirus cases in China. Although the number of new cases there declined after mid- February, the outbreak hit the country’s trade in the first two months of the year. In January and February, China’s exports dropped 17.2% in dollar terms from the same period a year ago, according to a statement from Chinese customs published on March 7. That was a bigger decline than economists had expected.
This story is from the April - May 2020 edition of Bloomberg Markets.
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This story is from the April - May 2020 edition of Bloomberg Markets.
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