Many businesses had rushed orders earlier in the year to try to beat higher tariffs. Once new import duties took effect, shipments slowed. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the U.S. imposed on each other in their escalating trade war, Zichun Huang of Capital Economics said in a report.
- Since then, the U.S. and China have exchanged angry words over advanced semiconductors that power artificial intelligence, "rare earths" that are vital to carmakers and other industries, and visas for Chinese students at American universities.
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