Breaking news

China’s Imports Unexpectedly Fell In June, But Exports Beat Forecasts

by THEFUTURE.TEAM

July 12, 2024

China’s imports fell in June, missing expectations for a slight rise, while exports rose more than expected, customs data showed on Friday.

KEY DATA

China’s imports fell 2.3% in June from a year earlier in US dollar terms. That contrasted with a forecast for growth of 2.8 percent, according to a Reuters poll.
Exports denominated in US dollars for June rose 8.6% year-on-year, beating expectations for growth of 8%.
Those numbers boosted year-to-date imports by 2% and exports by 3.6% in the first six months compared to the same period a year earlier.
China’s trade with the Association of Southeast Asian Nations grew 7.1 percent in the first half of the year, cementing the bloc’s position as the country’s largest trading partner by region, followed by the European Union.

ACCENT

China’s imports of rare earth elements, meat, cosmetics and machinery fell sharply in the first half of the year, customs data showed. During this time, however, imports of iron ore and oil increased.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Amid slower domestic growth, Beijing has sought to shore up its supplies of food and essential minerals to bolster national security.

In the first half of the year, China’s exports of furniture, home appliances, ships and automobiles rose. Exports of rare earths fell in value but rose in volume, the data showed.

China’s car exports rose 18 percent in volume last month from the same period last year, customs data showed.

WHAT TO WATCH FOR

China’s exports rose 7.6% in May from a year ago in US dollar terms, but imports rose just 1.8% during that time.

Domestic demand remains weak. Consumer prices in China rose 0.2 percent in June from a year earlier, beating expectations, while producer prices met expectations, data from the National Bureau of Statistics showed on Wednesday.

The core consumer price index, which strips out more volatile food and energy prices, rose 0.6% year-on-year in June, slightly slower than the 0.7% increase in the first six months of the year.

China’s National Bureau of Statistics is due to release second-quarter gross domestic product data and economic indicators for June on Monday.

The Future Forbes Realty Global Properties

Price Shifts: Temu And Shein React To Upcoming Tariffs

by News Editor

April 27, 2025

The online shopping world experienced a jolt as Temu and Shein, popular e-commerce platforms, recently adjusted their prices due to impending tariff changes. These platforms, known for offering budget-friendly options, have echoed with changes that might surprise many shoppers.

What Sparked the Price Hike?

Effective next week, a significant tariff will impact goods imported from China. This tariff follows the expiration of the “de minimis” exemption on May 2. This exemption previously allowed American shoppers to skip tariffs on items valued under $800. The new tariff demands a 120% fee or a flat $100 per postal item, increasing to $200 come June 1.

For instance, Temu’s two patio chairs jumped from $61.72 to $70.17 overnight, while a bathing suit on Shein saw a 91% surge in price. Yet, the price landscape isn’t consistently upward; a smart ring on Temu dropped by $3.

Implications for Consumers

Due to economic shifts and evolving trade rules, both Shein and Temu emphasized their efforts to maintain quality and affordability despite costlier operational expenses. They advised consumers to shop before April 25 to dodge the upcoming hikes, though it’s uncertain if this timing affects the 120% tariff applicability.

Impact on Lower-Income Households

The discontinuation of the “de minimis” exemption is poised to hit lower-income families hardest. Reports indicate these households spend a higher income proportion on apparel, and this change could burden them further.

Further economic insights highlight how industries adjust to challenges, such as in the face of AI-driven changes, potentially offsetting emissions concerns with economic gains.

For buyers and businesses alike, the shifting sands of trade laws call for adaptability and forethought.