China: Exports beat expectations after U.S. tariff truce

China’s export growth beat expectations in June, driven by strong demand from non- U.S. markets and a brief easing of trade tensions with Washington.

Transcript

00:00China's export growth beat expectations in June, driven by strong demand from non-U.S. markets

00:06and a brief easing of trade tensions with Washington.

00:09According to the General Administration of Customs, exports rose to 5.8% year-on-year

00:15to $325 billion, up from May's 4.8% and ahead of Reuters' 5% growth forecast.

00:24Imports also grew by 1.1%.

00:26The first increase this year, up from a drop of 3.4% in May and beating the 0.3% growth forecast.

00:35China also ended the first half of 2025 with a rekord trade surplus of $586 billion USD.

00:43While shipments to the U.S. plunged 16.1% in June, following an even sharper 34% drop in May,

00:50Chinese exporters made up ground elsewhere.

00:53Exports to ASEAN surged 17% year-on-year, helping cushion the blow.

00:59U.S. tariffs on Chinese goods have eased to around 55%, down from a peak of 145% in April.

01:08The two also managed to secure a trade agreement at the end of June,

01:12following a decision to slash duties on each other's goods in May.

01:16However, tensions remained high after Washington announced a fresh wave of tariffs on trading partners,

01:23including a 50% levy on copper, set to take effect on August 1st.

01:28Beijing had set a growth target of around 5% for the year,

01:32but many analysts saw it as an ambitious goal,

01:35warning that Trump's trade war could lead to a sharp slowdown in the second half of the year.

01:40...