GreenergyDaily

Jun. 9, 2025

Chinese exports rose less than expected last month as the worst drop in shipments to the US in more than five years counteracted strong demand from other markets.

Exports rose almost 5% from a year ago to $316 billion in May, slower than economists’ forecast of 6% growth. Despite record exports so far this year, the slump in US demand may have been one factor in convincing Beijing to sit down with US President Donald Trump’s trade negotiators in Geneva and agree to a tariff truce.

China’s exports to the US fell 34.4%, according to Bloomberg News calculations, the most since February 2020, when the first wave of the pandemic shut down the Chinese economy. That was despite the agreement reached May 12 that gave temporary relief to imports from China that would have faced as much as 145% duties.

That sharp decline offset a 11% rise in exports to other countries, showing the heft of the world’s largest economy even as Beijing reduced its reliance on direct shipments to the market after Trump’s first term.

“The trade outlook remains highly uncertain at this stage,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management. He added that frontloading should help sustain export momentum in June but may fade in the coming months.