Shipments to the U.S. sank 21% in dollar terms as Trump’s tariffs on most Chinese exports rose to as high as 145%. With Chinese tariffs on U.S. goods at 125%, business between the two biggest economies has grown increasingly uncertain.

China has announced a barrage of measures meant to counter the blow to its economy from U.S. President Donald Trump ’s trade war, as the two sides prepare for talks later this week. Beijing's central bank governor and other top financial officials outlined plans to cut interest rates and reduce bank reserve requirements to help free

Shipments of goods out of China slumped in April, including a big decline in exports to the United States, as President Trump imposed sky-high tariffs.