China's exports to US drop at fastest pace in over 5 years
The decline came despite the trade truce reached by the world's two largest economies on May 12, which involved reducing tariffs on certain imports between the US and China.
This sharp fall offset an 11% rise in exports to other countries, showing the heft of the world's largest economy even as Beijing reduced its reliance on direct shipments to the market after Trump's first term.
China's total exports rose by 4.8% year-on-year (YoY) in May to $316 billion, falling short of the expected 6% growth, official data showed.
Meanwhile, imports declined by 3.4% YoY in May, continuing their fall for the third consecutive month. This led to a trade surplus of $103 billion for the month.
Nonetheless, the overall growth in exports continues to support China's economy, with the country posting a record trade surplus of nearly $0.5 trillion so far this year.
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