CX Weekly Briefing: China Exports Slow Despite Tariff Truce
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A rundown of the news making headlines in and around China over the past week:
Finance and economics
Export slowdown: China’s export growth slowed in May despite the tariff truce with the U.S. Chinese goods exports grew 4.8% year-on-year in dollar terms, slowing from April’s gain of 8.1%. Total exports got dragged down by shipments to the U.S., which plunged 34.6% year-on-year in May. China and the U.S. announced an agreement on May 12 to suspend or remove most of the additional tariffs that they had imposed on each other. The deal reduced additional U.S. tariffs on all Chinese goods from 145% to 30%, and paved the way for future trade talks.
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- May 2025：
- China’s export growth slowed to 4.8% year-on-year growth; Chinese goods exports to the U.S. plunged 34.6% year-on-year in the same month.
- May 2025：
- China’s consumer price index (CPI) slipped 0.1% year-on-year; producer price index (PPI) fell 3.3% year-on-year, the largest drop since July 2023.
- May 12, 2025：
- China and the U.S. announced an agreement to suspend or remove most of the additional tariffs imposed on each other, reducing additional U.S. tariffs on all Chinese goods from 145% to 30%.
- Late May 2025：
- A Labubu item fetched more than HK$200,000 ($25,480) at Sotheby’s Hong Kong auction.
- June 5, 2025：
- Fei Dongbin, director of the National Railway Administration, was last seen in public before being placed under investigation.
- June 8, 2025：
- A Boeing 737 Max aircraft arrived in Zhoushan, marking the resumption of Boeing aircraft deliveries to China.
- June 9, 2025：
- China released a policy document proposing fairer, more inclusive, and accessible public services to boost consumer spending.
- June 10, 2025：
- A 131-cm Labubu figure created by Kasing Lung was sold for 1.242 million yuan at auction, setting a new record for the artist and brand.
- June 10, 2025：
- CATL announced the mass production of its 587Ah energy storage cell.
- June 11, 2025：
- Production of GV-971, China’s first homegrown Alzheimer’s drug, was suspended after the expiration of its conditional drug registration certificate.
- CX Weekly Magazine
Jun. 13, 2025, Issue 22
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