Asian markets are reeling today after disappointing trade data out of China overnight. Chinese exports fell 4.4% year over year, while imports were down 7.6%. According to Bloomberg, consensus had been looking for a 2% increase in exports and a 4.5% increase in imports.
China impacted by trade war
Analysts across the board were surprised by the weak numbers from China as it seems the trade war with the U.S. is taking a greater toll than Beijing had expected. Those import and export numbers were also the weakest since 2016.
Interestingly, China's trade surplus with the U.S. grew 17% year over year to $323.32...
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