China’s ‘New Three’ Exports Power Ahead, but Trade With U.S. Slumps
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China exported 410 million lithium-ion batteries last month, up 25.4% from a year earlier
China’s exports of new energy products rose further in July, buoyed by strong overseas demand for electric vehicles and lithium-ion batteries. But the momentum was dampened by a sharp drop in shipments to the United States, where a new wave of tariffs squeezed sales across a range of sectors.
Data released Monday by the General Administration of Customs showed China exported 410 million lithium-ion batteries last month, up 25.4% from a year earlier. The value of those exports surged 31.7% to more than $7 billion. For the first seven months of the year, battery exports climbed 26.2% to $41.1 billion.
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- China’s July exports of new energy products (EVs, lithium-ion batteries, solar cells) rose strongly, with lithium battery exports up 25.4% by volume and electric vehicle exports up 69.4% year-on-year.
- Plug-in hybrid vehicle exports soared 236.9% in July as Chinese automakers pivoted strategies in response to new tariffs, especially in the EU.
- Despite overall exports rising 7.2%, exports to the U.S. fell 21.7% due to tariffs; traditional exports like home appliances also declined.
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Who’s Who
- BYD Co.
- BYD Co. is mentioned as an example of a Chinese automaker whose plug-in hybrid models, like the Seal U, face lower tariffs in the EU compared to its battery-electric vehicles such as the Atto 3. This cost advantage has contributed to the Seal U being a top-selling plug-in hybrid in Europe.
- Minsheng Securities
- Minsheng Securities is a financial institution that provided an analysis in a research note. They suggested that a brief U.S.-China tariff truce in May led to a temporary increase in exports, which then diminished by July. They also noted China's overall export growth was due to increased shipments to the EU, Latin America, and Africa, as Chinese exporters shifted away from the U.S. market.
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What Happened When
- May 2025：
- A brief U.S.-China tariff truce triggered a short-lived export rush.
- June 2025：
- China's exports to the U.S. dropped by 16.1% year-on-year.
- June 2025：
- The BYD Seal U was the top-selling plug-in hybrid in Europe with 6,462 units sold.
- July 2025：
- China’s exports of new energy products rose further, supported by overseas demand but hurt by a sharp drop in U.S. shipments due to new tariffs.
- July 2025：
- China exported 410 million lithium-ion batteries, up 25.4% year-on-year.
- July 2025：
- China exported 1.1 billion solar cells, up 56% year-on-year, but export value dropped 14% to $2.22 billion.
- July 2025：
- China exported 325,000 electric passenger vehicles, up 69.4% year-on-year, with export value up 48.9% to nearly $5.92 billion.
- July 2025：
- Plug-in hybrid exports soared 236.9% to 75,000 units, with value up 175.3% to $1.56 billion.
- July 2025：
- Exports of pure electric vehicles grew 19.3% in value to $3.4 billion.
- July 2025：
- Home appliance exports fell 4.7% by volume and 3.8% by value to $8.3 billion.
- July 2025：
- China’s total exports rose 7.2% year-on-year in dollar terms, while exports to the U.S. plunged 21.7%.
- January–July 2025：
- China's lithium-ion battery exports climbed 26.2% to $41.1 billion.
- January–July 2025：
- China's solar cell exports reached 6.49 billion units, up 53.8%, but value fell 23.4% to $15.49 billion.
- January–July 2025：
- China's electric passenger vehicle exports totaled $34.6 billion, up 25.8%.
- January–July 2025：
- Value of pure electric vehicle exports slipped 1.5% year-on-year.
- As of July 2025：
- Cumulative U.S. tariff on a home appliance made of 30% steel and aluminum reaches 67%.
- August 18, 2025：
- General Administration of Customs released trade data for July 2025.
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