financetom
Economy
financetom
/
Economy
/
China's March exports likely got front-loading lift before Trump's new tariffs took effect
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China's March exports likely got front-loading lift before Trump's new tariffs took effect
Apr 10, 2025 11:46 PM

By Xiuhao Chen and Joe Cash

BEIJING (Reuters) - China's exports likely picked up pace in March, as factories rushed out shipments ahead of U.S. President Donald Trump's sweeping tariffs this month, though the broadening trade war with the United States has darkened the economic outlook.

Trade data for March is expected to show outbound shipments rose 4.4% year-on-year in value terms, according to the median forecast of 19 economists, accelerating from a 2.3 increase in the January-February period.

The slump in imports is expected to have persisted, down 2.0%, after an unexpected contraction of 8.4% at the start of the year.

The world's second-largest economy has gotten off to a bumpy start this year. Manufacturing activity expanded at the fastest pace in a year in March and retail sales perked up, but rising unemployment and persistent deflationary pressures continue to fuel calls for further stimulus.

More worryingly and of immediate concern for Chinese policymakers is the risks to economic growth from an intensifying trade war with the United States.

Trump has singled out China for additional 145% tariffs, despite having suspended the reciprocal duties he had imposed on dozens of economies he accuses of "ripping off" the U.S. by selling goods into the world's largest economy.

China has imposed 84% additional duties on American goods along with other retaliatory measures since Trump's fresh April 2 burst of tariffs.

Trade tensions with the U.S. could cut the shipment of goods between two economies by as much as 80%, according to a World Trade Organization estimate released on Wednesday.

Goldman Sachs this week lowered its forecasts for China's 2025 GDP growth to 4% from 4.5%, citing the effects of tariffs. Citi cut its forecast to 4.2% from 4.7% two days earlier.

China was not alone in stepping up efforts to out-run Trump's tariffs.

German exports also rose more than expected in February, signalling world-wide fontloading, with shipments to the U.S. up 8.5% on the month in anticipation of the U.S. duties, as did shipments from South Korea.

China's purchases of South Korean goods, a leading indicator of the China's imports, fell 4.1% in March, Korean data showed this month.

China's March trade surplus is forecast at $77.00 billion, down from $104.8 billion in December, the most recent comparable reading, but roughly in line with the level recorded a year ago. This will likely keep the production powerhouse in Trump's sights given that bringing the trade gap down is top of his agenda.

Trade data is scheduled to be released on Monday.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US construction spending beats expectations in December
US construction spending beats expectations in December
Feb 3, 2025
WASHINGTON (Reuters) - U.S. construction spending increased more than expected in December, boosted by single-family homebuilding, but high mortgage rates could curb further gains in new residential construction. The Commerce Department's Census Bureau said on Monday that construction rose 0.5% after an upwardly revised 0.2% increase in November. Economists polled by Reuters had forecast construction spending would advance 0.2% after...
Factbox-Brokerages stick to slower pace of Fed rate cut forecasts after inflation report
Factbox-Brokerages stick to slower pace of Fed rate cut forecasts after inflation report
Feb 3, 2025
(Reuters) -Most brokerages continue to expect a slower pace of interest rate cuts from the U.S. Federal Reserve in 2025 after personal consumption expenditures (PCE) data came in-line with market expectations. Meanwhile, U.S. President-elect Trump imposed tariffs on Mexico, Canada and China that could potentially become a crucial factor in the Fed's future policy decisions. Data on Friday showed, the...
US Manufacturing Confidence Tops Forecasts, Yet Price Pressures Intensify, 'Could Become A Concern,' Economist Says
US Manufacturing Confidence Tops Forecasts, Yet Price Pressures Intensify, 'Could Become A Concern,' Economist Says
Feb 3, 2025
The U.S. manufacturing sector surprisingly returned to expansion in January, signaling renewed business optimism, though mounting input costs pose a growing inflation risk for the months ahead. Two key indicators tracking U.S. factory activity that were released Monday showed stronger-than-expected growth last month. The S&P Global U.S. Manufacturing PMI was upwardly revised to 51.2, exceeding the preliminary estimate of 50.1...
Russia and Trump push Europe to be more independent, Macron says
Russia and Trump push Europe to be more independent, Macron says
Feb 3, 2025
BRUSSELS (Reuters) - French President Emmanuel Macron said on Monday that Russia's invasion of Ukraine and the policies of U.S. President Donald Trump were pushing Europe to take more responsibility for its own physical and economic security. Macron made the comments as he arrived at a gathering of European Union leaders in Brussels to discuss relations with the United States...
Copyright 2023-2026 - www.financetom.com All Rights Reserved