China’s exports rose 4.8% in May to $316 billion, falling short of the 6% growth economists had expected.
Weaker shipments to the US dragged overall growth despite stronger demand from other global markets. Imports fell 3.4%, marking the third month of decline, and pushed China’s trade surplus to $103 billion.
While exports continue to support China’s economy, the record surplus may not be enough to offset weak domestic demand. Risks persist for the second half of 2025, as the US plans to raise tariffs on several countries starting in July and on China in August.
Even if trade deals are reached, global demand could still slow as firms ease purchases made earlier to beat expected tariffs.
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