China's exports rise 7.2% in July, defying expectations
China's exports shot up 7.2% in July—outperforming expectations and last month's numbers—as manufacturers rushed to ship goods before a key US-China trade deadline.
Imports also surprised with a 4.1% rise, even though most predicted a drop.
Trade surplus shrinks to $98.24 billion
China's trade surplus shrank to $98.24 billion, down from June, after both countries agreed to ease some trade barriers.
The US also saw its smallest trade deficit with China in over 21 years, indicating that the back-and-forth is shifting global trade patterns.
China shifts focus to domestic spending amid trade tensions
Economists warn this export surge probably won't stick around, thanks to ongoing US tariffs and rocky relations with Europe.
With these headwinds, China is pivoting—trying to boost spending at home and keep prices steady as it braces for more uncertainty ahead.