US-China trade up 33.3pc in first 10 months of 2021: Chinese Customs

Among ongoing tensions between the two global powers, trade between the United States and China went up 33.4 per cent in January-October of this year, as compared to the same period in 2020.

Despite this increase in trade, China's trade growth with the US slowed in October compared with September, according to the Chinese General Administration of Customs.

The US-China trade amounted to USD 609.939 billion in the first ten months of 2021, Xinhua news agency reported citing the Chinese Customs.

China's export to the US increased by 31.7 per cent in that period and amounted to USD 465.305 billion, while the US export to China went up 39 per cent and amounted to USD 144.634 billion, according to the data cited by the Chinese agency.

Tian Yun, former vice director of the Beijing Economic Operation Association, told China's Global Times that China's macro regulatory policies on the domestic economy and real estate sector resulted in slower growth across investment and consumption, leading to imports drop from the US.

He said that the global economy is suffering from supply chain snarls. That country which could stabilize domestic supply chains and boast of a big share in the global value chain will outperform in foreign trade, he noted.

Last year, the US-China trade went up 8.3 per cent, standing at USD 586 billion, despite the Covid-19 pandemic and trade disputes.

( With inputs from ANI )