China records high exports and surplus amid trade turmoil
China just posted a record $586 billion trade surplus for the first half of the year.
Exports jumped 5.8% year-on-year in June, hitting $325 billion, while imports finally nudged up after months of drops.
Even with less buying from abroad, China's export machine is still running hot.
Shipments to ASEAN countries shot up by 17%
Sales to the US took a hit—down 16.1% in June thanks to ongoing tariffs—but Chinese companies quickly pivoted.
Shipments to ASEAN countries shot up by 17%, showing how exporters are finding new markets and keeping factories busy despite global tensions.
Rising global protectionism making trade prospects more complicated
Still, things aren't getting easier.
Wang Lingjun from China's customs agency admits that "rising global protectionism is making trade prospects more complicated."
With new US tariffs starting August and tighter rules on goods routed through places like Vietnam, even Treasury Secretary Scott Bessent says talks are needed to sort things out—and some experts warn these export gains might not last forever.