Biz Updates: China’s exports rise 10.7% in December 2024; hike amid Trump’s warning to impose trade tariffs
New Delhi| China’s exports registered a 10.7 percent year-on-year growth in December 2024. China’s factories were quick to fulfill orders amid uncertainty over US President-elect Donald Trump’s warning to impose trade tariffs. China’s exports were projected to be seven percent in December 2024, but it remained better than that. China’s imports during this period were also higher than expected and increased by one percent.
Analysts estimated that imports would decrease by about 1.5 per cent compared to the same period last year. It is noteworthy that Trump has resolved to impose 10 percent duty on Chinese goods which exporters currently use to sell their products in America at cheap prices.
The rupee continued its downward trend for the second consecutive trading session on Monday, falling 27 paise to 86.31 per dollar on the back of a strong US currency amid volatile global cues. The rupee opened at 86.12 per dollar in the interbank foreign exchange market. After initial deals hit an all-time low of 86.31 against the dollar representing a sharp drop of 27 paise against the previous closing price.
