In March, China posted a trade surplus of $102.6 billion as exports surged 12.4% year-on-year to $313.9 billion, while imports declined 4.3% to $211.3 billion. The surge in exports is attributed to a rush by companies to beat upcoming U.S. tariff hikes imposed by President Donald Trump.

Axar.az, citing Time, report that analysts, including Julian Evans-Pritchard from Capital Economics, warned that this spike is temporary and expect exports to decline significantly in the coming months and possibly years.

China’s overall 2024 trade surplus hit a record $992.2 billion, with exports rising 5.4%, helping offset domestic economic struggles such as a sluggish recovery from COVID-19 and a crisis in the property sector.

Since taking office, Trump has escalated tariffs on Chinese goods, first increasing them from 10% to 20%, and now raising them to 145% on most exports. China retaliated with 125% tariffs on U.S. products and measures targeting U.S. strategic interests, including restrictions on exports of critical minerals essential for high-tech industries like EVs.

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