A large container ship arrived at the port of Lianyungang in eastern China on Monday, just as Beijing announced a bigger-than-expected rise in exports for June. China and the United States reached a temporary agreement to lower some of the high tariffs they had placed on each other’s goods
Government data showed that China’s exports went up by 5.8 percent in June compared to the same time last year. Officials say this increase is due to stronger global demand and the recent tariff agreement, which was made in mid-May
The deal between the US and China is being called “tentative,” meaning it’s not final yet. But for now, both countries have agreed to reduce some of the trade taxes that were set during the height of their trade tensions
Imports into China also went up slightly by about 1.1 percent which may be a sign that people and businesses inside the country are starting to spend more again. China’s trade surplus the gap between exports and imports also grew in June, thanks to strong sales of electronics, machinery, and rare earth materials
Ports like Lianyungang have seen more activity in recent weeks. Shipping companies say they’re getting more orders and moving goods faster than before. Many businesses are rushing to take advantage of the lower tariffs while the agreement is still in place
However, some experts warn that this growth might not last. If the US and China don’t come up with a long-term deal, trade tensions could return, bringing more uncertainty later in the year. For now, though, the rise in exports is a welcome sign for China’s economy, which has been trying to recover after a few tough years
ADVERTISEMENT
