Illustration: Aïda Amer/Axios

Total U.S. imports have risen in August after 10 straight months of declines, data from S&P Global shows, with U.S. imports by sea growing by 7% year over year in the first 15 days of the month.

Details: Imports from China surged 14.3% higher year over year in the first half of August after increasing by 4.3% in July, per Panjiva, the supply chain research unit of S&P Global Market Intelligence. Exports from the EU rose by 7.5% after falling 13.9% in July. Growth was not universal with shipments from Asia, excluding China, down by 4.6% due to a continued decline in imports from Japan.

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Dion Rabouin, author of Markets
Sep 8, 2020 - Economy & Business

Possible restrictions on Chinese chip exports could do harm to U.S. growth

Data: U.S. Bureau of Economic Analysis; Chart: Axios Visuals

The Trump administration's trade war with China and the coronavirus pandemic have crippled U.S. exports this year and could worsen as the administration reportedly is considering export restrictions on China’s most advanced manufacturer of semiconductors.

Where it stands: The U.S. trade deficit has risen to its highest since July 2008 and U.S. exports of goods and services as a percentage of GDP shrank to the lowest level since 2003 in the second quarter.

Why China matters to the movie industry

Data: PwC Global Entertainment & Media Outlook 2020–2024; Chart: Axios Visuals

Mainland China is expected to remain the second-largest global cinema market both in admissions terms and in box office revenue through 2024, per PwC.

The state of play: Prior to the pandemic, PwC estimated that China would overtake the U.S. box office this year. Mainland China already has the most movie screens of any country in the world and continues to grow despite the pandemic.

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