China faces export slump as Trump’s tariffs take a toll

China’s export orders dropped sharply in April as US President Donald Trump’s tariffs took a toll on the world’s second-largest economy.

American importers have cancelled or delayed orders, causing a gauge of new export orders to drop to its lowest level since COVID-19 shut down China in 2022.

While the country has quietly offered some concessions in its brewing trade war with the US, reportedly easing retaliatory tariffs on some US goods, Beijing has vowed to “never kneel down” to American pressure.

While the strain of tariffs has pushed China to boost stimulus efforts, it is holding off on additional measures, Reuters reported, “betting on Washington blinking first” in a drawn-out trade conflict.