China's exports up 5.8% in June as tariffs reprieve prompts rush of orders

Exports climbed 5.8% from a year earlier, up from a 4.8per cent rise in May. Imports also recovered, growing 1.1% in the first increase so far this year, according to customs data released Monday

China's exports accelerated in June as a reprieve on US tariffs prompted a rush of orders by companies and consumers.

Exports climbed 5.8per cent from a year earlier, up from a 4.8per cent rise in May. Imports also recovered, growing 1.1per cent in the first increase so far this year, according to customs data released Monday.

Exports to the United States fell 16per cent but that was less than half the 34.5per cent drop seen in May.

After US President Donald Trump imposed tariffs of up to 245per cent on imports from China and Beijing responded with its own steep import duties, the two sides agreed to hold back to allow time for talks. But preliminary discussions between the two sides have yet to produce significant progress.

 

In the meantime, the Trump administration has hiked tariffs on imports from China by 35per cent, pending an Aug 12 deadline for reverting to the higher tariffs Washington and Beijing have delayed for now.

The recovery in trade is expected to help boost economic growth in the April to June quarter. The Chinese government is due to report those figures on Tuesday.