China’s October Exports Fall Amid US Trade Tensions
According to China’s General Administration of Customs, shipments abroad decreased by 1.1% year-on-year to $305.3 billion.
Conversely, imports climbed 1% to $215.2 billion, resulting in a trade surplus of $90.07 billion for the month.
This downturn follows a robust September, when exports surged 8.3% and imports rose 7.4%, fueled by accelerated pre-orders amid fears that tariff negotiations between the US and China would collapse.
Exports from China to the US continued their sharp decline in October, falling 25.2% compared with the same period last year. This drop extended a series of steep decreases in prior months, including 21.7% in July, 33.1% in August, and 27% in September.
Tensions intensified in October after Beijing enforced new limitations on the export of rare earth elements—a sector where China commands a significant portion of global supply.
In retaliation, US President Donald Trump declared that Washington would levy an additional 100% tariff on Chinese products starting Nov. 1 and suspend all exports of critical software to China.
Although a meeting between Trump and Chinese President Xi Jinping on Oct. 30 in Busan, South Korea, temporarily eased frictions with encouraging public remarks, both parties deferred decisions on the pivotal economic matters at the center of the dispute.
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