China says April exports jump 14.1% from a year ago ahead of Trump-Xi
summit
[May 09, 2026] By
CHAN HO-HIM
HONG KONG (AP) — China’s exports rose 14.1% in April from a year
earlier, the government said Saturday, despite the Iran war and
lingering impacts from higher U.S. tariffs.
The data were released just days ahead of a planned meeting next week
between U.S. President Donald Trump and Chinese leader Xi Jinping in
Beijing.
That beat analysts’ estimates and was a significant improvement from
March’s 2.5% year-on-year expansion. Exports to the U.S. rose 11.3% from
the year before, up from a 26.5% drop in March.
Imports climbed 25.3%, slower than the 27.8% growth in March but still
robust.
The Trump-Xi summit comes at a time when relations are beset by multiple
issues, with efforts to end the war in Iran eclipsing the usual sources
of friction.
“We’re expecting that overall external demand will remain a solid driver
of growth this year,” said Lynn Song, chief economist for Greater China
at Dutch bank ING, likely led by China’s exports of semiconductors and
autos.
In March, Chinese leaders set an annual economic growth target of 4.5%
to 5%, slightly lower than last year’s 5% expansion and the lowest
target since 1991. Export growth is expected to continue to power its
wider economy, especially as shipments increased from China to Europe,
Southeast Asia, Latin America and Africa over the past months.
China’s exports to the U.S. have fallen for most of the months since
Trump imposed steeper tariffs and harsher controls on sharing of
technology after he took office last year. But trade with the U.S. is
likely improving this year, said Song, particularly because of the base
effects of sharp declines caused by Trump’s tariff hikes in 2025.
Apart from efforts to broker a peace agreement to end the Iran war,
trade and export controls, including rare earths and U.S. tech
restrictions on China, will likely be on the agenda during the Trump-Xi
summit, following a yearlong U.S.-China trade truce reached late last
year when the two leaders last met in South Korea.
[to top of second column] |
Aerial view of new vehicles waiting for shipment to overseas market
at a port in Shanghai, China Saturday, May 9, 2026. (Chinatopix via
AP)
 Major breakthroughs on export
controls are unlikely, but the leaders’ upcoming meeting may bring
“incremental” steps to troubleshoot trade friction, HSBC economists
said in a recent research note.
“On balance, China looks to have more leverage,” wrote Leah Fahy,
senior China economist of Capital Economics, in a note. “But higher
tariffs haven’t stopped China’s exports from continuing to surge
over the past year, and Beijing has showed that it is prepared to
wait out U.S. pressure.”
For China, oil and fuel price hikes caused by the war in Iran are
also feeding higher manufacturing and logistics costs across its
many factories, said Wei Li, head of multi-asset investments at BNP
Paribas Securities (China), while higher global inflation could
dampen consumer purchasing power in China’s overseas markets.
Still, China’s overall economy has remained resilient compared with
other countries, owing to its large oil reserves and more
diversified energy sources.
ING’s Song said China’s trade surplus, which reached an all-time
high of almost $1.2 trillion last year, could narrow for the whole
of this year. Imports so far have been stronger in 2026, though
China is still recovering from a prolonged property slump that has
dragged on consumption and investment.
All contents © copyright 2026 Associated Press. All rights reserved
 |
