China’s exports unexpectedly contracted in August with sales to the U.S. shrinking by 16% from a year earlier, as the trade war between the two nations escalates. Exports decreased 1% in dollar terms from a year earlier, while imports declined 5.6%, leaving a trade surplus of $34.84 billion, the customs administration said Sunday. Economists had forecast that exports would grow 2.2% while imports would shrink by 6.4%. Key Insights • The contraction comes despite a persistent weakening of the yuan, and is also evidence that exporters are not ‘‘front-loading’’ sales to try to beat oncoming higher tariffs • Weak exports ... (full story)