China’s exports surged in April even as businesses bore the brunt of U.S. tariffs that kicked into higher gear last month, while imports narrowed declines as Beijing stepped up stimulus.
Exports jumped 8.1% last month in U.S. dollar terms from a year earlier, according to data released by customs authority on Friday, sharply beating with Reuters’ poll estimates of a 1.9% rise.
Imports slumped by 0.2% in April from a year earlier, compared with the economists’ expectations of a 5.9% drop.
Shipments from China had clocked a 12.4% year-on-year growth in March, as exporters rushed to ship out goods to avoid higher tariffs. Imports, however, had dropped by a more than expected 4.3% from a year earlier, underscoring Beijing’s challenge of reviving domestic demand.
U.S. President Donald Trump has placed tariffs of 145% on all imports from China, prompting it to retaliate with tariffs of 125% on American imports. So far, both sides have sought to blunt the economic impact of triple-digit levies by granting exemptions on certain critical products.
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Source: CNBC