China's exports surge as shipments to Southeast Asian countries offset plunge in U.S. trade [View all]
Source: CNBC
China's exports surged in April on the back of a jump in shipments to Southeast Asian countries, offsetting a sharp drop in outbound goods to the U.S. as prohibitive tariffs kicked in.
Exports jumped 8.1% last month in U.S. dollar terms from a year earlier, according to data released by customs authority on Friday, sharply beating Reuters' poll estimates of a 1.9% rise.
Imports slumped by just 0.2% in April from a year earlier, compared with economists' expectations of a 5.9% drop.
China's shipments to the U.S. plunged over 21% in April year on year, while imports dropped nearly 14%, according to CNBC's calculation of official customs data. Chinese U.S.-bound shipments had risen 9.1% in March, as exporters rushed to frontload orders ahead of tariff hikes.
Read more: https://www.cnbc.com/amp/2025/05/09/chinas-exports-jump-us-tariffs-imports-tumble.html
Looks like the US shot itself in the foot.
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