BANGKOK (AP) — China’s exports jumped 12.4% in March from a year earlier as companies rushed to beat increases in U.S. tariffs imposed by U.S. President Donald Trump, the government said Monday.
Imports fell 4.3%, the customs administration reported.
It said exports from the world’s second largest economy rose 5.8% in the first three months of the year from a year earlier while imports sank 7%.
China’s trade surplus with the United States was $27.6 billion in March as its exports rose 4.5%. It logged a surplus of $76.6 billion with the U.S. in the first quarter of the year.
China is facing 145% tariffs on most exports to the United States as of the most recent revisions in Trump’s trade policies.
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A customs administration spokesperson said China was facing a “complex and severe external situation” but that the sky would not fall. He pointed to China’s diversified export options and huge domestic market.