KEY TAKEAWAYS:

China’s exports rose 4.4% in August to $321.8B

Exports to U.S. plunged 33% amid tariffs

Rare earth exports rose month-over-month to $55M

China’s trade surplus reached $785.3B in first 8 months

China’s exports grew last month but at a slower pace than in recent months, the country’s customs agency said Monday.

Exports reached $321.8 billion in August, a 4.4% increase compared to the same month last year. That was down from a 7.2% jump in July. Meanwhile, imports totaled $219.5 billion, a 1.8% rise.

China’s large trade surplus has become a contentious issue with major trading partners including the U.S. and the European Union. Low-priced Chinese imports are a boon for consumers but can lead to job cuts in manufacturing.

In the first eight months of the year, China’

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