China’s trade balance figures are due out this Wednesday, with Nomura’s analysts expecting the country’s export growth to decelerate last month amid escalating US-China trade dispute.
Key Quotes:
“We expect export growth to slow as US-China trade tensions have escalated and the import tariff hike by the US on Chinese goods has come into effect.
Import growth is likely to accelerate in year-on-year terms as Chinese importers could have postponed their shipments to July given the tariff cuts on certain imports (such as autos and daily commodities) came into effect on 1 July.”
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