China saw a 6% year-over-year increase in exports worldwide in June, as retailers sought to take advantage of a 90-day pause on reciprocal tariffs between China and the U.S.

However, CNBC reports that, during the same period, China's exports to the U.S. fell by 16%, although that was a marked improvement over the 34.5% dip recorded in May, when companies had largely paused ordering goods out of China because President Trump had imposed tariffs as high as 245% against Chinese goods. But then the two agreed May 14 to a truce, and the levies went back to 30% to give the two sides time to negotiate a new trade deal. With that pause scheduled to end on August 12, businesses resumed front-loading shipments from China in June ahead of the new deadline.

As the clock ticks on the August 12 deadline, China has pivoted toward other trade partners, with shipments to countries in Southeast Asia jumping by nearly 17% year-over-year in June, as well as by 7.6% for shipments bound for the European Union. In a note published on July 14, Capital Economics China economist Zichun Huang said that she expects U.S. tariffs against China to remain high, and for Chinese manufacturers to slash prices in the face of "growing constraints" on their ability to quickly expand their global market share.

"We therefore expect export growth to slow over the coming quarters, weighing on economic growth," she predicted.

In the U.S., the Port of Los Angeles reported record volumes for the month of June, while the National Retail Federation (NRF) expects U.S. ports to see a combined 2% year-over-year bump in imports in July. The NRF is projecting decreases starting in August, and then in each month through the end of the year.