{"id":122760,"date":"2025-11-07T10:47:07","date_gmt":"2025-11-07T10:47:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/122760\/"},"modified":"2025-11-07T10:47:07","modified_gmt":"2025-11-07T10:47:07","slug":"chinas-exports-fall-for-first-time-since-liberation-day-trade-tariffs","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/122760\/","title":{"rendered":"China\u2019s exports fall for first time since \u2018liberation day\u2019 trade tariffs"},"content":{"rendered":"

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China\u2019s exports have declined for the first time since the US unleashed its \u201cliberation day\u201d tariffs in April, highlighting the impact of months of trade tensions even as the two powers struck a truce.<\/p>\n

Exports from the world\u2019s second-biggest economy were down 1.1 per cent year-on-year in dollar terms in October, China customs data showed on Friday. The last time they fell was in February.<\/p>\n

The unexpected decline comes after months of strong export growth, including an 8.3 per cent rise in September. Analysts polled by Reuters had expected a 3 per cent increase last month. <\/p>\n

China\u2019s economy<\/a> has relied heavily on external trade to counter the effects of a four-year property slowdown and weak consumer confidence at home, even in the face of escalating trade tensions with the US this year.<\/p>\n

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Last week President Trump and President Xi Jinping secured a one-year truce. Tensions had in recent weeks escalated over Beijing\u2019s rare earths controls.<\/p>\n

After the US and China hit each other\u2019s economies with swingeing tariffs<\/a> in April, subsequent trade truces incentivised exporters to frontload their shipments ahead of any further escalation.<\/p>\n

China\u2019s exports to the US have fallen over recent months but they have typically been balanced by rising shipments to south-east Asia, as well as Europe.<\/p>\n

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In October exports to both regions rose at a slower pace, with those to the EU edging 0.9 per cent higher year-on-year and those to south-east Asia adding 11 per cent, the smallest rise since February. US exports dropped 25 per cent in October.<\/p>\n

Imports grew 1 per cent in October, also well below both September\u2019s level of 7.4 per cent and analyst expectations of 3.2 per cent.<\/p>\n

\u201cTrade data tends to be very volatile, but I would say exports are the biggest surprise this year, so far [it] has been very strong,\u201d said Larry Hu, chief China economist at Macquarie. \u201cMy base case is it\u2019s going to remain very strong in the next 6-12 months.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to…\n","protected":false},"author":2,"featured_media":122761,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-122760","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/122760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=122760"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/122760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/122761"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=122760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=122760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=122760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}