Chinese trade figures beat expectations, suggesting Beijing may be weathering pressure from Washington amid intensifying tariff threats from the White House.
The upbeat export and import data came despite trade with the US cratering, indicating Chinese firms are finding new markets for their goods.
The figures came after US President Donald Trump threatened an extra 100% duty on Chinese goods in response to Beijing tightening curbs on exports of rare earths, heightening tensions ahead of a potential meeting between Trump and Chinese leader Xi Jinping this month.
“Neither China nor the US wishes to return to mutually damaging tit-for-tat escalations and retaliations,” ING’s China chief economist wrote. “However, the past few weeks show that the possibility of miscalculation is always present.”
