Vehicles and trucks for export wait for transportation from a port in Yantai in eastern China's Shandong province on Jan. 2, 2025. (Chinatopix via AP)
China’s exports in December grew at a faster pace than expected, as factories rushed to fulfill orders amid uncertainty over trade tariffs that could be imposed by U.S. President-elect Donald Trump.
Exports in December grew 10.7% compared to the same period last year, beating estimates of about 7%.
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Imports also beat estimates, growing 1%. Analysts expected imports to shrink about 1.5% compared to the same period last year.
Trump has pledged to impose 10% tariffs on Chinese goods and close some loopholes that exporters currently use to sell their products more cheaply in the U.S.
If enacted, his plans would likely raise prices in America and squeeze sales and profit margins for Chinese exporters.
