China’s trade balance for May, in Yuan terms, came in at CNY 156.51bn versus CNY 148.31bn expected and CNY 182.8bn last. Exports came at +3.2% y/y vs +1.7% expected and +3.7% last, while imports were +15.6% y/y vs +8.6% expected and +11.6% last.
“Trump has long criticized China’s widening trade surplus with the US. In response, China has offered to China has offered to purchase close to $70 billion worth of US good over the next year, according to the Wall Street Journal, but has vowed to fight back if Trump still imposes tariffs on Chinese goods,” Omkar Godbole at FXStreet’s Analyst noted.
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