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China’s March Exports Surge 12.4%, Defying Trade War Pressures

Chinese exporters accelerated shipments to the U.S. ahead of heightened tariffs, while domestic demand remained weak and imports declined by 4.3%.

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Overview

  • China's exports grew by 12.4% year-on-year in March 2025, surpassing analyst expectations of 4-5% growth, according to official customs data.
  • Shipments to the U.S. increased by 9%, driven by exporters rushing to send goods before the full impact of U.S. tariffs of up to 145% took effect.
  • China’s imports fell by 4.3% in March, highlighting a sluggish domestic economy despite the robust export performance.
  • In response to U.S. tariffs, China imposed counter tariffs of 125% on American goods, while exploring new trade opportunities in Southeast Asia.
  • President Xi Jinping is actively seeking to strengthen economic ties with Vietnam, Malaysia, and Cambodia to diversify export markets amidst ongoing trade tensions.