China’s trade surplus with the United States was $27.6 billion in March as its exports rose 4.5%. It logged a surplus of $76.6 billion with the US in the first quarter of the year.
China’s exports saw a boost in March, rising by 12.4% year-on-year as companies scrambled to ship goods before anticipated increases in US tariffs under President Donald Trump’s administration. The jump in exports came as part of an effort to mitigate the potential impact of these new tariffs, according to the latest report from China’s customs administration. However, imports into China fell by 4.3% during the same period.
For the first quarter of the year, China’s exports grew by 5.8%, while imports saw a steeper decline of 7%. The trade figures underline the ongoing strain in global trade dynamics, especially between the world’s two largest economies. A significant aspect of China’s trade performance was its growing surplus with the United States. In March, China logged a trade surplus of $27.6 billion with the US, as its exports to the country rose by 4.5%. For the first quarter, this surplus totaled $76.6 billion, reflecting the ongoing trade imbalance despite tensions over tariffs and trade negotiations.
China’s exports surge to Southeast Asia and Africa
China is facing 145% tariffs on most exports to the United States as of the most recent revisions in Trump’s trade policies. However, the biggest increases in exports were to China’s Southeast Asian neighbors, which saw exports from China jump nearly 17% in March from a year earlier. Exports to Africa rose more than 11%.
Chinese President Xi Jinping was travelling to Vietnam on Monday as part of a regional tour that will also take him to Malaysia and Cambodia, giving him an opportunity to firm up trade ties with other Asian countries that also are facing potentially steep tariffs, though last week, Trump delayed enforcing them by 90 days. China’s exports to Vietnam jumped nearly 17% last month from a year earlier, while its imports fell 2.7%. While Xi’s trip likely was planned earlier, it gained significance amid the trade war between Washington and Beijing.
China remains optimistic despite trade challenges
A customs administration spokesperson, Lyu Daliang, said China was facing a “complex and severe external situation” but that the sky would not fall. He pointed to China’s diversified export options and huge domestic market. When asked about falling Chinese imports, he told reporters that China has been the world’s second largest importer for 16 straight years, increasing its share of global imports from about 8% to 10.5%. “At present and in the future, China’s import growth space is huge, and the large Chinese market is always a great opportunity for the world,” he said.
(With AP inputs)
