China's exports exceed expectations - Continue to grow, despite decline in trade with the US
China's total exports beat expectations in April, rising more than 8%. The result came despite a decline in trade with the United States, due to high tariffs between the countries. China's trade with the United States fell in April, even as Beijing's total exports exceeded forecasts, official figures show.
Exports to the United States, one of China's top trading partners, fell 17.6% in April, data showed. Analysts had expected exports to grow just 2% year-on-year last month. However, they beat expectations, rising 8.1%.
"The damage from US tariffs did not show up in trade data in April. This may be partly due to shipping through other countries, and partly due to trade contracts that were signed before the tariffs were announced. Trade data will gradually weaken in the coming months," said an industry expert.
Trade between the world's two largest economies has slowed sharply since US President Donald Trump imposed successive rounds of tariffs on China. Tariffs on many Chinese products now reach up to 145%, with tariffs on some goods reaching a staggering 245%.
Beijing has responded with 125% tariffs on imports of American goods, along with other measures targeting U.S. firms. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with Chinese Vice Premier He Lifeng in Switzerland on Saturday and Sunday, marking the first talks between the superpowers since Trump unveiled his tariffs.
Chinese foreign ministry sources expressed full confidence in their ability to manage trade issues with the United States. They added that the US administration's trade policy can be contained.
"We don't want any kind of war with any country. But we have to face reality. As you can see, people have full confidence in our ability to overcome all difficulties... Ordinary people in the US have already started to suffer from the tariff war," Chinese officials announced.
April economic data showed China's imports also beat expectations, shrinking by just 0.2%, compared with a 6% decline that analysts had estimated. Overseas purchases were also being closely watched as a key gauge of consumer demand in China, which has remained sluggish.
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