Overview

• China's export growth slowed to 6.7% in November, down from 12.7% in October, while imports contracted by 3.9%, marking their worst performance in nine months.
• Analysts attribute the November export figures partly to frontloading by U.S. importers ahead of President-elect Donald Trump's planned tariff hikes on Chinese goods.
• Trump has pledged additional tariffs of up to 60%, citing China's role in the fentanyl trade, which poses significant risks to China's export-driven economy.
• Beijing's leadership is planning more proactive fiscal and monetary policies to stabilize growth, including measures to boost domestic demand and consumption in 2025.
• China faces additional trade tensions with the European Union, which has imposed tariffs of up to 45.3% on China-made electric vehicles, opening a second front in its trade challenges.