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11h ago

China's Exports Defy Tariffs with 8.1% Growth as US Trade Plummets

April trade data highlights China's export resilience despite a 21% drop in US-bound shipments, with ASEAN and EU markets driving gains ahead of key trade talks in Switzerland this weekend.

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A China Shipping container is seen at the port of Oakland, as trade tensions escalate over U.S. tariffs with China, in Oakland, California, U.S., April 10, 2025. REUTERS/Carlos Barria/File Photo
Delivery couriers sort out parcels for their customers underneath a tunnel during a rainy day in Beijing, Friday, May 9, 2025. (AP Photo/Andy Wong)
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Overview

  • China's total exports rose 8.1% year-on-year in April, surpassing forecasts of a 2% increase, despite escalating US tariffs.
  • Shipments to the United States fell sharply by 21%, reflecting the impact of Washington's 145% tariffs and China's 125% retaliatory duties.
  • Exports to ASEAN countries surged by 21%, while shipments to the European Union grew by 8%, offsetting declines in US trade.
  • China's imports fell by just 0.2% in April, outperforming expectations of a 6% drop, amid domestic stimulus measures to boost demand.
  • High-level trade negotiations between US and Chinese officials are set to begin in Switzerland this weekend, marking the first talks under the new tariff regime.