BBG: China’s unexpected export drop shows why It wants a trade deal

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BLOOMBERG reports: “The unexpected drop in China’s exports in November shows one reason why the nation wants to agree on a phase one trade deal – U.S. tariffs are hurting China’s exports at a time when global demand is already weak.

“Total exports in November dropped 1.1% from a year ago, and to the U.S. they were down 23%, the customs administration said Sunday. That was the worst result for exports to the U.S. since February and the 12th straight monthly decline. Overall shipments had been expected to rise 0.8%, as retailers and companies stock up before the Christmas shopping season.”

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