China’s imports of US goods slowed in May, pushing back purchase targets agreed with the US in a 2020 trade deal, reported Bloomberg.
In May, China purchased nearly $10 billion in US manufactured, agricultural, and energy products. This was the lowest monthly total since October of 2020, bringing the total imports to nearly $157 billion since January 2020, 41.4% of the agreed upon targets.
Manufactured products were the number one import in May, taking up over 64% of the total amount spent on imports. Electrical equipment and machinery was the category with the second highest spending amount.