Business Business: China’s export growth rate in May fell to a three-month low. US tariffs have caused a massive drop of 34.5% in China’s exports to the US. Growth in total exports has also slowed, while imports saw a decline of 3.4%. US tariffs and trade war have put pressure on China’s economy.
The producer price index (PPI) fell by 3.3% in May, the sharpest in 22 months. Economic growth is being affected by a decrease in consumer spending and weak domestic demand. China-US trade talks are ongoing, which has raised hopes of some relief.
