Overview

• June exports rose 5.8% year-on-year, surpassing economists’ forecasts, and imports recovered with a 1.1% gain after May’s decline.
• China’s trade surplus widened to $114.7 billion, up from $103.2 billion in May, reflecting pre-emptive shipments under the 90-day Geneva tariff truce.
• Second-quarter GDP expanded 5.2% year-on-year, outpacing the projected 5.1% and demonstrating resilience despite ongoing tariff pressures.
• Exports to the United States plunged 16.1% in June even as China’s rare earth shipments jumped 32% month-on-month to 7,742 tonnes.
• President Trump has imposed a 40% tariff on U.S.-bound transshipments via Vietnam ahead of an August deadline, renewing uncertainty in bilateral trade ties.