China September exports beat expectations

Source Credit : CNBC

China’s exports climbed at the fastest pace in six months in September, while imports logged their strongest gain in more than a year, even as a trade deal with the U.S. remains elusive.

Exports grew 8.3% in September in U.S. dollar terms from a year earlier, China’s customs data showed Monday, beating Reuters-polled economists’ estimates for a 7.1% rise and rebounding from August’s six-month low.

Imports jumped 7.4% last month from a year ago, sharply beating Reuters’ estimates for a 1.5% growth, marking the strongest level since April 2024, according to LSEG data.

China’s exports to the U.S. fell 27% in September, while imports declined 16% from a year earlier. Beijing’s imports from the U.S. have dropped by double digits year on year every month since April.

Beijing’s trade surplus with the U.S. in the first nine months scaled back to $208.6 billion, according to the official data, compared to $25.8 billion during the same period last year.



The double-digit declines in U.S.-bound shipments were largely offset by sharp increases in exports to other markets. Exports to the Association of Southeast Asian Nations, the European Union and Africa surged 15.6%, 10.4% and 56.4%, respectively.

Tensions between Beijing and Washington have flared again in recent days as both sides traded barbs and ramped up respective restrictions, threatening to erode progress made after several rounds of bilateral trade talks this year.

U.S. President Donald Trump has threatened an additional 100% levy on Chinese exports and tighter export controls on critical software. Beijing, meanwhile, expanded restrictions on rare earth exports — though some don’t take effect until November — and broadened its “unreliable entities” blacklist to include chip consulting firm TechInsights. Authorities have also opened a fresh antitrust probe into U.S. semiconductor manufacturing giant Qualcomm.

The additional tariff on U.S. imports from China, if stacked on the current average tariff of around 55%, could take the total levies to above 150%, effectively causing a trade embargo, said Gabriel Wildau, managing director at political risks advisory Teneo.

“China would likely respond tit-for-tat, and bilateral trade would slow to a trickle,” Wildau added.

Both sides have threatened to impose charges on each other’s ships for docking at their own ports, set to take effect the same day on Oct. 14. Chinese levies will start at 400 yuan ($56) per ton, matching that imposed by Washington.

The U.S. makes up just 0.1% of global shipbuilding, compared with 53.3% for China, according to the Center for Strategic and International Studies.

China Customs spokesperson Lyu Daliang said at a news conference Monday that Beijing hopes the U.S. will realize that it is taking the wrong approach by raising port fees and urged Washington to return to dialogue and negotiation.