Where Data Tells the Story
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China is balancing out its trade losses with the U.S. by selling more to the EU and ASEAN countries. While the three entities previously had been comparable partners, ASEAN imports are now charging ahead, while those to the EU are up and those bound for the U.S. irregular and sinking.
The push of Chinese producers to sell more to overseas markets is an ongoing story and started even before the latest trade war between China and the U.S. as China has been struggling with low demand at home as its once booming economy has been showing signs of slowing down. The need to sell overseas became stronger with the new tariff regime though, and China has been known to push more merchandise to ASEAN nations, India and Africa as well as the European Union, another major trade partner of China, in 2025.
According to the Chinese Customs Administration, Chinese exports to the EU topped $51 billion in August, while those to ASEAN nations even topped $57 billion - a major increase for both partners. U.S. exports meanwhile fell to just $31.6 billion, a 33 percent decrease year-over-year. Nevertheless, the U.S. remains the biggest single-country export destination for Chinese goods.