China exports soared in June, beating forecasts
BEIJING : China's exports jumped in June, official data showed today, beating forecasts in a month when Washington and Beijing agreed a tentative deal to lower swingeing tariffs on each other.
Data from the General Administration of Customs said exports rose 5.8% year-on-year, topping the 5% forecast in a Bloomberg survey of economists.
Imports rose 1.1% – beating the predicted 0.3% gain.
China's exports reached record highs last year – a lifeline to its slowing economy as pressures elsewhere mounted.
Beijing has struggled to sustain growth since the pandemic as it battles a prolonged debt crisis in the property sector, chronically low consumption and high youth unemployment.
A bruising trade war with the US, driven by President Donald Trump's policy of sweeping import tariffs, has made things more difficult for the world's second-largest economy.
Washington and Beijing have de-escalated their trade spat after reaching a framework for a deal at talks in London last month, but observers warn of lingering uncertainty.
Customs official Wang Lingjun said at a news conference today that Beijing '(hopes) that the US will continue to work together with China towards the same direction', state broadcaster CCTV reported.
'The tariff truce was 'hard won',' Wang said.
'There is no way out through blackmail and coercion. Dialogue and cooperation are the right path,' he added.
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