Chinese exports climb as exporters reroute shipments to other markets amid slump in shipments to the US.
China’s trade surplus in goods has exceeded $1 trillion for the first time, driven by a 5.9% increase in exports, despite a 28.6% drop in shipments to the US due to ongoing trade tensions. Export growth was fueled by increased demand from the EU, Australia, and Southeast Asia, while weak domestic consumption persisted. French President Macron warned of potential tariffs if the surplus remains unaddressed. Analysts expect resilient export performance as Chinese goods become more competitively priced.
