China's Exports Surge 12.4% Despite U.S. Tariffs

China's exports surged by 12.4% in March 2025, significantly exceeding forecasts, as companies rushed to ship goods before the imposition of 145% tariffs by the U.S. under President Trump. This growth was largely driven by increased shipments to Southeast Asia and other markets, despite a decline in imports by 4.3%. The surge in exports came as part of China's broader strategy to counter U.S. trade policies and to diversify its trade partnerships, including strengthening ties with ASEAN countries. Meanwhile, the Chiang Mai Initiative Multilateralization mechanism has allowed yuan contributions for the first time, highlighting China's efforts to bolster the yuan's role in global finance amidst U.S. dollar reliance reduction initiatives. Analysts caution that while March's export figures are strong, the full impact of the tariffs may become evident in future economic reports.