 "China says its trade volume surged in April despite Trump’s tariff squeeze")
Despite tariffs from US President Donald Trump to the tune of 245 per cent, Chinese exports did not just remain resilient but also increased this month, according to official data.
During April 13-20, Chinese ports processed 6.3 million containers, which were 10 per cent more than the previous week, according to official data cited by Bloomberg.
So far, Trump has imposed 145 per cent tariffs on China in various tranches on top of pre-existing general tariffs as well as sectoral tariffs on automobiles, steel, aluminium, electric vehicles, etc. In some cases, the cumulative US tariffs on China are as high as 245 per cent.
However, Trump has also granted electronics, such as smartphones and computers, a waiver from tariffs and that has helped China’s exports to some extent. The waiver made way for the export of Chinese goods to the tune of $100 billion to the United States, according to Gerard DiPippo, an associate director of the Rand China Research Center.
Bloomberg further noted that the 90-day reprieve that the Trump administration has put on ‘reciprocal tariffs’ has also contributed to the growth of Chinese exports.
The vast majority of Chinese exports go through ports with some going to Europe or neighbouring Asian countries through trains. For some high-priority goods, aerial transport is also used.
The rising exports show that Asia suffered less disruption from Trump’s tariffs and allowed China to divert some of the US-bound shipments elsewhere, according to Bloomberg.
Impact Shorts
More ShortsHowever, China’s exports to Europe via train were down 10 per cent, according to the data.
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