China's exports climb in April amid trade war with US

ISTANBUL

China’s exports saw a significant upwind in April, even as trade tensions with the US deepened, official customs data revealed on Friday.

Exports grew 8.1% year-on-year to reach $315.6 billion, surpassing market forecasts. However, imports dipped slightly by 0.2% to $219.5 billion.

Despite the overall export increase, shipments to the US plunged 21% in April compared to a year earlier -- the steepest decline in 21 months. That figure marked a sharp reversal from March’s 9.09% rise and underscored the impact of escalating tariffs between the two countries.

In contrast, exports to ASEAN countries surged 20.8%, while shipments to the European Union grew 8.2%.

The growth in exports was attributed in part to Chinese manufacturers ramping up shipments in anticipation of further US tariff hikes. In March, exports had already jumped 12.4%.

Trade officials from both countries are set to meet Friday in Switzerland for high-level tariff negotiations -- the first direct talks since both sides imposed sweeping duties on each other’s goods.

On April 2, US President Donald Trump introduced additional tariffs targeting several major trade partners, including China. In response, Beijing retaliated with matching duties.

Tariffs on Chinese goods bound for the US now stand at 145%, while China has imposed a 125% duty on American exports.

While the US gave other countries a 90-day reprieve from its new tariffs, duties against China were implemented immediately.

Speaking to reporters Thursday, Trump hinted that the Chinese tariff rate may soon come down.

“Right now, you can’t get any higher. It’s at 145, so we know it’s coming down,” he said, suggesting a potential shift in tone ahead of the negotiations.