US - China Trade War: Chinese Exports To US Fall 23% Amid Tensions Between Washington, Beijing

China's exports to the United States amid the ongoing trade war decreased 23% from a year earlier to $35.6 billion, customs data revealed Sunday. China is running a trade surplus with the U.S. of $24.6 billion.

China's global exports fell by 1.1% from a year earlier to $221.7 billion.

The trade war has no end in sight, with President Trump's economic advisor Larry Kudlow saying Friday that a new round of tariffs is still set to be imposed on $156 billion of Chinese goods on Dec. 15 if there is no trade deal.

The stock market sank Tuesday after Trump said that there was no deadline on a trade deal, suggesting that a deal with China could be made after the 2020 election.

Washington and Beijing hope to first reach a "Phase One" deal where no new tariffs would be placed on Chinese goods in exchange for China buying U.S. agricultural products. Trump and China have disagreed on the agriculture purchases, with Trump asking China to buy $40 to $50 billion of U.S. farm goods a year, a steep increase over the $8.6 billion China bought from the U.S. in 2018.

American farmers have been hit hard by the trade war, with the U.S. government paying billions to stimulate the U.S. agricultural sector amid the tensions.

Trump has stated that the tariffs on Chinese goods will revive American manufacturing and prevent China from flooding the global market with cheap exports. His administration has also labeled China a "currency manipulator." Some large retailers, such as Walmart, have said that tariffs would force them to raise their prices, which would hurt the American consumer.