Overview

• China’s imports from the US plunged 18.9 percent year-on-year in July to $12.0 billion, marking a fifth consecutive monthly decline.
• The bilateral trade surplus with the US narrowed by 23 percent to $23.7 billion as US tariffs, including a persistent 30 percent rate on Chinese goods, weighed on exporters.
• Japan’s current account surplus contracted 23.6 percent in June to ¥1.3482 trillion alongside a 19.1 percent drop in its merchandise trade surplus to ¥469.6 billion.
• North America-bound exports from Japan fell 12.6 percent in June, a decline the finance ministry attributes to US tariff measures.
• China’s total global exports rose 7.2 percent in July to $321.7 billion, driven by strong demand in ASEAN and EU markets.