Exports from China rose by 7.2% yoy to USD 321.8 billion in July 2025, beating expectations of a 5.4% growth and accelerating from a 5.8% gain in June. It was the fastest pace of outbound shipments since April, driven by a temporary easing of tariff pressures and ahead of the August deadline. By destination, exports grew to Japan (2.4%), South Korea (4.6%), Taiwan (19.2%), Australia 14.8%), the EU (9.2%), and the ASEAN (16.6%), while falling to the US (-21.7%). For the 1st seven months of 2025, China’s exports climbed by 6.1% yoy, totaling USD 2.13 trillion. During this period, shipments rose for agricultural products (1.8%), fertilizer (49.3%), and ships (15.5%). However, rare-earth exports plunged by 23% mom in July, following a surge in June. China’s rare-earth shipments are under close international scrutiny after Beijing reached a series of agreements with the US and Europe to increase exports and ease the export licensing system introduced in April in retaliation for US tariffs.