China's Export Growth Slows Sharply as U.S. Tariffs Intensify

Exports rose just 2.3% in January-February 2025, falling short of expectations, while imports dropped 8.4%, reflecting escalating trade tensions and weakening domestic demand.

• China's exports grew 2.3% year-on-year in January-February 2025, significantly below the 5% growth forecast by economists and the 10.7% growth seen in December 2024.
• Imports contracted by 8.4% during the same period, defying expectations of a 1% increase and marking the steepest drop since mid-2023.
• The slowdown in exports follows a late-2024 rush to ship goods ahead of new U.S. tariffs, with cumulative duties now reaching 20% after recent hikes by President Donald Trump.
• China has retaliated with tariffs on select U.S. goods and restrictions on critical mineral exports, further straining trade relations between the two nations.
• Chinese leadership has set a 2025 growth target of around 5% and pledged additional stimulus measures, including consumer subsidies, to counter weak domestic demand and reduce reliance on exports.

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