China’s Exports Fall in October Amid Trade Tensions
According to China’s General Administration of Customs, exports decreased 1.1% year-on-year to reach $305.3 billion.
Meanwhile, imports increased by 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 might collapse.
Exports from China to the US continued their sharp decline in October, falling 25.2% compared with the previous year.
This drop continued the steep downward trend observed in prior months, which included decreases of 21.7% in July, 33.1% in August, and 27% in September.
Tensions heightened in October after Beijing introduced new restrictions on the export of rare earth elements—a sector in which China dominates a significant portion of global supply.
In retaliation, US President Donald Trump announced that Washington would implement an additional 100% tariff on Chinese goods starting Nov. 1 and would halt 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 alleviated tensions with optimistic public remarks, both parties deferred decisions on the crucial economic issues at the core of their dispute.
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