China's exports to the US grow in June following truce in the tariff war

(AFP) Exports from China’s communist regime rose 5.8 percent year-on-year in June, and shipments to the United States leapt 32.4 percent month-on-month, taking advantage of the truce in the tariff war between the two countries.

The figures released Monday by the General Administration of Customs beat the 5% forecast made by economists surveyed by Bloomberg.

Imports, which increased by 1.1%, were also higher than expected by other  experts (+0.3%).

After falling significantly in April and May, exports to the United States recovered strongly in June following the truce in the trade dispute signed between the two countries.

The Asian giant sold goods valued at $38.2 billion to the U.S. in June, against $28.8 billion in May and $33 billion in April, according to Customs data.

The Asian giant's foreign trade had already reached record levels last year, which represented an important support for an economy weighed down by a major real estate crisis, low consumption and high youth unemployment.

No final agreement between Washington and Beijing

Wang Lingjun, a senior administration official, said Monday that they hope "the United States will continue to work with China in the same direction," state-run CCTV television reported.

The tariff truce was reached "with great effort." "There is no solution through blackmail and coercion. Dialogue and cooperation are the right way," he added.

However, experts point out that the situation is still uncertain in the absence of a final agreement between Washington and Beijing.

"Tariffs are likely to remain high," said Zichun Huang, a China economist at Capital Economics. "Therefore we expect growth in exports to slow in the coming quarters, weighing on economic growth," he added.