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China trade slumps as anti-virus controls close factories

China trade slumps as anti-virus controls close factories

BEIJING (AP) — China’s exports fell by double digits in January and February as anti-virus controls closed factories. Imports sank by a smaller margin.

Exports tumbled 17.2% from a year earlier to $292.4 billion, a sharp reverse from December’s 7.8% rise. Imports declined 4% to $299.5 billion, down from the previous month’s 16.3% gain.

Trade was poised for a boost after Beijing and Washington removed punitive tariffs on some of each other’s goods in a trade truce. But those gains were offset by Chinese anti-virus controls that shut down much of the world’s second-largest economy starting in late January.

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