Among the consequences of President Donald Trump’s tariffs on China is a reduction in Chinese exports to the US market and an increase in exports to the rest of the world.
In the first half of 2025, China’s foreign sales to the US fell at an annual rate of 10.6%. In contrast, its exports to the rest of the world grew by 4.9%.
According to the People’s Bank of China, the continued strength of Chinese exports and strong activity in China, supported by domestic policies such as the consumer goods exchange program, are expected to boost global growth in the short term.
Consequences of US tariffs
As a result of the trends described above, Chinese exports to the US market fell to $215.909 billion in the first half of 2025. In turn, Chinese exports worldwide totaled nearly $1.8 trillion.
The following shows the trend in Chinese exports of products to the United States in the first half of each year, in millions of dollars:
- 2021: 253.103.
- 2022: 292.990.
- 2023: 238.279.
- 2024: 241.587.
- 2025: 215,909.
Chinese economy
The international scenario became more complex. The slowdown in global growth, the rise of trade barriers, and the uneven performance of major economies set the tone.
In this environment, China surprised with higher-than-expected growth. Its GDP grew 1.1% in the second quarter, with seasonally adjusted figures. In the previous period, the increase had been 1.2%.
Net exports continued to contribute to GDP. However, their effect was weaker than in the previous quarter. The sharp drop in shipments to the United States was partly offset by higher sales to other regions. At the same time, imports declined.
Domestic consumption also sustained the expansion. The government implemented stimulus measures and programs aimed at boosting household spending and economic activity, thereby strengthening the domestic engine of the world’s second-largest economy.
Below are China’s merchandise exports to the rest of the world in the first half of each year, in billions of dollars:
- 2021: 1,516.
- 2022: 1,725.
- 2023: 1,647.
- 2024: 1,706.
- 2025: 1,789.
Challenges
In July, exports maintained their pace. Industrial production also recorded annual rates similar to those of the previous quarter. However, retail sales showed a moderation in growth.
At the same time, investment in fixed assets continued to lose momentum. The slowdown observed in the second quarter extended into July, reflecting less dynamism in the economy.
In this context, the Bank of Mexico warned that China faces major challenges. The weakness of its real estate sector and low domestic demand are key factors. Added to this is the uncertainty generated by trade tensions with the United States.