Chinese shipments to the U.S. in the first half of the year fell 10.9% from the same period in 2024, while China’s exports to all countries rose 5.9% over that same stretch, in line with the 5.8% year-over-year increase that China reported for the full year of 2024.

China ended the first half of the year with a record trade surplus of about $586 billion after exports to the US began to stabilize, as factories rode out the tariff rollercoaster that upended global commerce.

Exports to the US remained in negative territory in June although the decline was softer than in May. There was an annual rise in exports sent to other nations as China seeks to diversify its trade. V