BREAKING: Chinese exports to the US dropped -34% in May, the steepest fall since February 2020. This marks the 2nd consecutive monthly decline as US demand for Chinese goods continues to contract.
This sharp decline came despite a May 12th trade deal agreement that temporarily reduced tariffs on Chinese imports to 30%.
The drop also more than offsets the +11% increase in Chinese exports to the rest of the world.
All while Chinese shipments to Vietnam surged +22% as Chinese companies attempt to avoid US tariffs.
