Analysts: Falling U.S.-China trade is ‘harbinger’ of what’s to come

Trade between the U.S. and China fell by 25 percent in the first half of 2023 compared to 2022, the Commerce Department said on Tuesday, a reflection of China’s economic woes, ongoing U.S.-China tensions, and companies’ novel prioritization of supply chain reliability over cost and efficiency, analysts say – and a “harbinger” of further bilateral trade deterioration. Two-way U.S.-China trade between January and June 2023 stood at $276 billion, the lowest level since the opening six months of 2020 during...