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China exports fall in August as amid trade war with US

China exports fall in August as amid trade war with US
China's exports unexpectedly fell in August as shipments to the US slowed sharply, adding to worries about the effects of the two nations' trade war, BBC reported.

China is expected to announce more support measures soon, to avert the risk of a sharp economic slowdown.

These could include the first cuts in four years to some key lending rates.

August exports from the world's second largest economy fell 1% from a year earlier, the biggest fall since June, when they fell 1.3%,

China's August exports to the US fell 16% year-on-year, slowing sharply from a decline of 6.5% in July. Meanwhile, imports from the US slumped 22.4%.

There were escalations in August in the year-long trade row, with Washington announcing 15% tariffs on a wide range of Chinese goods from September.

China hit back with levies of its own, and let its yuan currency fall to offset some of the tariff pressures. Analyst expectations had been that a falling yuan would offset some cost pressures.

China let its currency slide past the key 7-per-dollar level in August for the first time since the global financial crisis. That led Washington to dub Beijing "a currency manipulator".