BEIJING: China’s exports declined in October for the first time since March 2024, reflecting the impact of rising trade tensions with the United States and broader global uncertainty, official customs data showed Friday.
According to the General Administration of Customs, exports fell 1.1% year-on-year to $305.3 billion, while imports rose 1% to $215.2 billion, leaving a trade surplus of $90.07 billion for the month.
The decline follows a strong September, when exports surged 8.3% and imports climbed 7.4% amid a rush of pre-orders driven by fears of stalled US–China tariff talks, reports Anadolu.
Shipments to the United States continued their steep slide, plunging 25.2% year-on-year in October, after drops of 21.7% in July, 33.1% in August, and 27% in September.
Tensions between Washington and Beijing intensified last month after China restricted exports of rare earth elements, a critical sector where it dominates global supply. In retaliation, US President Donald Trump announced a 100% tariff on Chinese goods, effective November 1, along with a halt to the export of critical software to China.
Although a Trump–Xi meeting in Busan on October 30 briefly signaled a diplomatic pause, key trade issues remain unresolved, keeping markets on edge as both economies brace for further disruption.
