China’s exports gained momentum in June as firms accelerated orders while a temporary trade truce with the U.S. continued. Shipments to Southeast Asia were particularly noteworthy.
Before new tariffs are expected to take effect next month, Chinese manufacturers are trying to maintain their market share and strengthen their positions in nearby markets despite challenging conditions in the U.S. In June, China’s exports increased by 5.8% year-on-year, exceeding expectations.
Imports, on the other hand, recovered after the decline in May, showing a 1.1% increase.Exports to the US rose 32.4% compared to the previous month, making June the first month in which the full effect of tariff easing was seen. However, year-on-year growth is still negative. China’s trade surplus also rose to $114.7 billion.
Experts warn that this increase in exports may be temporary. The new tariffs, exceeding 35%, seriously threaten the profitability of producers.
Furthermore, the US imposition of a 40% tariff on shipments via Vietnam could make it more difficult for Chinese goods to be transported via alternative routes. […] […] […] On the other hand, China’s soybean imports from Brazil reached a record high; the amount imported from the US remained quite low. Imports of crude oil and iron ore also showed a strong increase in June.] […] […] […] However, if a lasting trade agreement with the US cannot be reached by August 12, global supply chains may once again face significant uncertainty.] […] […] […] […]
