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πŸ‡¨πŸ‡³ China's exports just had their best month since 2021, and most of it is tariff arbitrage

πŸ‡¨πŸ‡³ China's exports just had their best month since 2021, and most of it is tariff arbitrage

China's exports rose 27% year-on-year in June, the fastest pace since 2021, but the surge lines up with a frontloading rush ahead of new US tariffs on July 24. Consumer inflation stayed soft at 1.0%, and the trade surplus hit $125.62bn.

Line chart of China Exports YoY (solid blue) and China High-Tech Exports YoY (dashed orange) from Jun 2024 to Jun 2026.
China's June trade surplus reached $125.6 billion, the second-highest monthly surplus any country has recorded, keeping the full-year total on pace to exceed $1 trillion. Source

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