4 days ago
US cuts Chinese medicine purchases threefold in April, according to customs data
MOSCOW, June 8 (Bernama-Sputnik/RIA Novosti) -- The United States drastically cut down the purchase of Chinese medicines in April, with imports in monetary terms showing a threefold drop to US$173.6 million compared to March, RIA Novosti calculations based on US customs data revealed on Sunday.
The shipments of Iodine drugs made up the largest share of supplies in April, accounting for 75 per cent of Chinese medicine exports to the US.
Additionally, antibiotics (9.5 per cent) and hormonal products (4.4 per cent ) also accounted for significant volumes of shipments in money.
The major sellers of drugs to the US in April were India (19 per cent of US imports), Ireland (14 per cent) and Switzerland (13 per cent). China, with a 12 per cent share, ranked 12th, along with Hungary, Denmark and Japan.
China and the US are now essentially in a state of trade war, which erupted after US President Donald Trump imposed a 10 per cent tariffs on imports of all Chinese goods in February, raising it to 20 per cent in March.
After several reciprocal measures, the US tariff against Chinese goods reached 145 per cent, and the rate for US suppliers to China hit 125 per cent.
However, already in mid-May, China and the US mutually reduced trade tariffs to 10 per cent, from May 14 for 90 days.
Consequently, China started imposing a 10 per cent tariff on US imports, while the US levied a 30 per cent tariff on Chinese products as the 20 per cent "fentanyl" tariff remained in effect. In late spring, the sides accused each other of violating preliminary agreements. - Bernama-Sputnik-RIA Novosti
