Import decline streak shows there's no winner in trade war: MOC
BEIJING -- The five-month decline of China's imports from the United States shows there is no winner in a trade war, which could lead to declines in the US economy and the global economy, the Ministry of Commerce (MOC) said Thursday.
"Influenced by the U.S. unilateral escalation of trade frictions, U.S. products are becoming less competitive, corporate expectations are destabilized and normal business operations are disrupted," MOC spokesperson Gao Feng told a news conference.
Gao made the remarks when asked to comment on the continuous decrease in China's imports from the United States.
China's imports from the United States dropped by 29.6 percent year on year to $49.57 billion in the January-May period, data from the General Administration of Customs showed.
The data also showed that China's rare earth exports fell 16 percent month on month in May.
Fluctuations in rare earth exports were a result of market changes, Gao said, adding that China has not adopted new control measures for rare earth trade.
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