Daijiworld Media Network – Beijing

Beijing, Nov 7: China’s exports fell sharply in October as shipments to the United States dropped 25%, reflecting the impact of President Donald Trump’s tariffs, government data showed on Friday.

Overall, China’s global exports slipped 1.1% year-on-year — the weakest performance since February — following an 8.3% increase in September. The data highlights China’s continued reliance on American buyers despite its efforts to expand into other markets.

Economists said the slowdown also reflects a steep comparison with October 2024, when exports had surged by 12.6%. Exports to the US have now recorded double-digit declines for seven consecutive months, though China has been redirecting goods to Southeast Asia and Africa.

Imports rose by 1% in October compared to a 7.4% increase in September, signaling persistent domestic challenges such as a property slump and weak consumer demand.

Meanwhile, a recent meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea led to an agreement to ease trade tensions. Both sides agreed to scale back certain tariffs, delay new port fees, and China also paused export controls on rare earths while pledging to buy more US soybeans and farm goods.

Goldman Sachs economists forecast that China’s export volumes could expand by 5–6% annually as trade conditions improve. Capital Economics analysts noted that the benefits from tariff reductions may only start showing later this quarter, while BNP Paribas’ Wei Li predicted a “meaningful” recovery in US-bound exports early next year.