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U.S.-China Trade Talks Begin as Tariffs Reshape Global Commerce

China’s exports to the U.S. plummeted 21% in April, while trade surged with ASEAN and India, highlighting shifting supply chains and economic realignments.

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Overview

  • Chinese exports to the U.S. fell 21% in April year-on-year, driven by tariffs of up to 145% imposed by the Trump administration.
  • China offset U.S. trade losses with an 8.1% overall export growth, including a 20.8% rise to ASEAN countries and a 21.7% increase to India.
  • High-level trade negotiations are underway in Switzerland between U.S. and Chinese officials to explore potential tariff reductions, though a full resolution is unlikely.
  • Global manufacturers are accelerating supply chain diversification away from China, a trend amplified by pandemic disruptions and ongoing trade tensions.
  • China has implemented measures such as interest rate cuts to mitigate economic impacts, though experts warn of continued export challenges in the months ahead.