BEIJING/ISTANBUL 

China’s exports rose sharply in March, driven in part by businesses rushing shipments ahead of expected tariff hikes from US President Donald Trump.

Exports increased 12.4% year-on-year to $313.9 billion, according to data released Monday by the General Administration of Customs. That figure far exceeded the market expectations of a 4.4% annual rise.

Imports fell 2.3% compared to the same period last year, totaling $211.3 billion. The resulting foreign trade surplus for March stood at $102.6 billion.

In the first two months of this year, China’s exports rose 2.3%, while imports dropped 8.4% year-on-year.

On April 2, Trump announced a new round of “reciprocal” tariffs on imports from more than 180 countries, with rates ranging from 10% to 50%.

Although the administration later postponed those tariffs for 90 days for most nations, China was excluded from the delay.

Tariffs on Chinese goods were subsequently raised to 125%, on top of an earlier 20% levy.

In response, China increased its tariff rate against the US to 125%.

On Saturday, the US granted exemptions for certain technology products -- including smartphones, computers, and related devices -- from its reciprocal tariffs applied to other countries, including China.

However, on Sunday, Trump denied reports that his administration had formally approved such exemptions, contradicting earlier suggestions that consumer electronics would be spared from the sweeping tariff measures.