China Imports Grow the Most in A Year

China’s imports rose 4.1% year-on-year to a five-month high of USD 223.5 billion in July 2025, defying market expectations of a 1.0% decline and picking up from 1.1% growth in the previous month.

It was the second straight monthly increase and the fastest pace since July 2024, driven by Beijing’s continued stimulus efforts to boost domestic demand.

The latest result comes as Beijing approaches a critical August 12 deadline to finalize a long-term tariff deal with Washington, after earlier framework agreements aimed at easing tensions over rare earths and tech.

Failure to reach a deal could trigger a sharp escalation, with U.S.

tariffs set to revert to triple-digit levels, risking major supply chain disruptions.

President Trump said the U.S.

was close to a deal and plans to meet President Xi before year-end, pending progress.

Year-to-date, imports fell 2.7% to USD 1.45 trillion, with declines from the U.S.

(-10.3%), EU (-5.2%), and Russia (-7.7%), while imports from ASEAN edged up 0.2%.