China's exports miss forecasts as U.S. tariffs hit, imports record sharpest decline since July 2023

China’s exports growth slowed more than expected in January to February, rising only 2.3% in U.S. dollar terms, while imports plunged by 8.4%, marking the sharpest fall since July 2023. The slowdown is attributed to lackluster domestic demand and U.S. tariffs, with Chinese exporters front-loading shipments in anticipation of further levies, leading to a 2.4% decline in total trade values. Despite setting an ambitious growth target, Chinese leadership acknowledges weak domestic demand and adjusts the inflation target to the lowest level in decades.

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