China’s consumption slide tariff is deep as a bite of war

Beijing: China said on Saturday that consumer prices slipped to the third straight month in April, reflecting continuous challenges, as the leaders attempted to revive an economy by dull expenses with Washington and a fierce trade war.The second largest economy in the world has been consistently struggling with deflation pressure in recent years, with a long -standing crisis in the property sector and exports to headwinds exporting.The latest figures come to China and Switzerland for a meeting of the United States major economic authorities before the start of Saturday, offering a possible offer for the high-day trade war launched by President Donald Trump.US tariffs on imports from manufacturing powerhouses are now shocked 145 percent for several products, and others reach 245 percent highly high.Trump on Friday suggested that the tariff could be cut up to 80 percent, although Beijing has sought to completely cancel the levy who are facing other challenges in front of the Chinese economy.After the previous drops in February and March, according to data released by the National Bureau of Statistics (NBS) on Saturday, the Consumer Price Index (CPI), a major measure of inflation, was 0.1 percent last month.The reading was in line with the bloomberg’s forecast of the decline of 0.1 percent year-on-year, based on a survey by economists, and in line with the slight decline recorded in March.NBS Statistics Dong Lijuan said in a statement about data on Saturday that “international imported factors have a certain impact on prices in some industries”.The NBS also announced on Saturday that the April producer Price Index (PPI) recorded a decline of 2.5 percent in March, a decline of 2.7 percent year-on-year.China’s PPI, another indicator of inflation, remains in a negative area in recent months, and the decline recorded on Saturday was in line with expectations.“The change in the international trade environment and the rapid decline in some international wholesale goods affect the fall in prices in the respective domestic industries,” Dong said.Last month, China’s export trade increased despite the war, official figures showed on Friday, an unexpected development, which is responsible for the re -rooting of trade in Southeast Asia to reduce US tariffs by experts.Business data from the Chinese Customs Bureau has shown that when exports to the United States fall rapidly in April, Thailand, Indonesia and Vietnam increased by double digits.This week Chinese policy makers reduced major monetary policy equipment in a bid to increase domestic activity.They included a major interest rate cut and banks should hold in the reserve in the reserve to promote a wide push of Beijing to revive the economy from September.