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China exports to US up 32.4pc in June, overall figures beat forecast
BEIJING: China’s exports to the United States rose 32.4 per cent month-on-month in June, as trade between the two recovered following high-level talks last month.
The country shipped $38.2 billion worth of goods to the United States, up from $28.8 billion in May, China’s General Administration of Customs said. Shipments totalled $33 billion in April.
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As far as the overall figures are concerned, China’s exports jumped in June, official data showed Monday, beating forecasts in a month when Washington and Beijing agreed a tentative deal to lower swingeing tariffs on each other.
Data from the General Administration of Customs said exports rose 5.8 per cent year-on-year, topping the five per cent forecast in a Bloomberg survey of economists.
Imports rose 1.1 per cent – beating the predicted 0.3 per cent gain.
RECORD HIGH EXPORTS LAST YEAR
China’s exports reached record highs last year – a lifeline to its slowing economy as pressures elsewhere mounted.
Beijing has struggled to sustain growth since the pandemic as it battles a prolonged debt crisis in the property sector, chronically low consumption and high youth unemployment.
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And a bruising trade war with the United States, driven by President Donald Trump’s policy of sweeping import tariffs, has made things more difficult for the world’s second-largest economy.
Washington and Beijing have de-escalated their trade spat after reaching a framework for a deal at talks in London last month, but observers warn of lingering uncertainty.
Customs official Wang Lingjun said at a news conference on Monday that Beijing “(hopes) that the US will continue to work together with China towards the same direction”, state broadcaster CCTV reported.
The tariff truce was “hard won”, Wang said.
“There is no way out through blackmail and coercion. Dialogue and cooperation are the right path,” he added.
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