As the tariff war between China and Washington intensifies, Chinese imports of American goods have plunged in July 2019, by 19 per cent from a year earlier to $ 10.9 billion, Customs data showed, though that was an improvement over June’s 31.4 per cent fall. Exports to the United States declined by 6.5 per cent to $ 38.8 billion. Beijing has retaliated against US tariff hikes in a dispute over trade and technology by imposing its own punitive duties and suspending purchases of American soybeans and other goods, says a report.
This opens up an excellent opportunity for India to further tap the Chinese and American markets, analysts have said.
