Chinese Exports Rose in August Despite Growing Trade Barriers

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(Wall Street Journal) — China’s exports in August beat expectations and accelerated despite growing trade barriers, giving Beijing a little breathing room in its efforts to lift domestic demand and reawaken the anemic economy.

Outbound shipment in August rose 8.7% compared with the same period a year earlier, picking up from July’s 7.0% increase, the General Administration of Customs said Tuesday. That beat the 6.6% growth tipped by a Wall Street Journal poll of economists.

The rise in shipments sent the value of exports to their fastest on-year increase in 17 months, as export volumes reached a record high, according to Zichun Huang, an economist at Capital Economics. “Outbound shipments are likely to remain strong in the coming months,” added Huang, in a note to clients.

The export growth comes against the backdrop of rising trade barriers targeting Chinese products. In July, the European Union imposed higher tariffs on Chinese electric vehicles. The U.S. and Canada have also announced plans to impose hefty tariffs on goods from China, including EVs.