Financial News: China Exports Fall Unexpectedly As Tariffs Damps US

China Exports Fall Unexpectedly As Tariffs Damps US Demand

11/07/2025 - 05:14:00 (RTTNews)

(RTTNews) - China's exports declined for the first time in eight months in October as higher trade tariffs dampened demand from the US, and imports growth eased sharply on weaker domestic demand. As the impact of front-loading faded, exports dropped 1.1 percent on a yearly basis in October, figures from the General Administration of Customs revealed Friday. This was the first decline since February.

The fall came in contrast to the 8.3 percent increase in September and also confounded expectations for an increase of 3.0 percent.

Shipments to the US declined around 25 percent in October. China has diversified its exports to other economies in Southeast Asia and Africa to reduce the impact of higher tariffs from the US.

Meanwhile, imports grew 1.0 percent from the previous year. However, the pace of growth eased from 7.4 percent in September and also weaker than forecast of 3.2 percent.

As a result, the trade surplus totalled $90.07 billion, below the expected level of $96.9 billion.

Last week, US President Donald Trump and Chinese President Xi Jinping agreed to de-escalate trade tensions.

At their meeting in South Korea, China agreed to eliminate proposed export controls on rare earth elements and also to open China's market to US soybeans and other farm products. Trump agreed to cut the "fentanyl tariff" to 10 percent from 20 percent.

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