China's Export Surge Defies Trade Tariff Fears

China's exports in December grew by 10.7%, surpassing expectations amid looming trade tariffs that may be imposed by US President-elect Donald Trump. Imports also exceeded forecasts, growing by 1%. The potential 10% tariffs could elevate prices in the US, impacting Chinese exporters' profits.

In a surprising economic upturn, China's exports soared in December, achieving a 10.7% growth rate compared to the previous year. This performance surpassed analyst predictions set at approximately 7% growth.

The increase comes as Chinese factories accelerated their output to address a backlog of orders while preparing for prospective trade tariffs from US President-elect Donald Trump.

In addition to exports, imports also defied projections, climbing 1% against expectations of a 1.5% decline. President-elect Trump's proposed 10% tariffs on Chinese goods threaten to increase prices in the American market, posing challenges for Chinese exporters by potentially squeezing profit margins.

(With inputs from agencies.)