More Trump trade war fallout: China’s exports to U.S. sink 21%

China's exports to the US plummeted 21% in April, while its total exports rose 8.1% year-on-year, exceeding economists' expectations. The drop in US-bound exports is attributed to President Trump's tariffs, which have led to a shift in global supply chains. China's trade surplus with the US decreased to $20.5 billion in April, down from $27.2 billion a year earlier. Meanwhile, China's imports from the US fell 4.7% in the first four months of the year. A potential breakthrough in the tariffs stalemate may come as soon as this weekend, as US and Chinese officials are set to discuss trade issues. However, Beijing and Washington remain at odds over strategic interests, making progress uncertain. Despite this, China's exports to other countries, such as the European Union, Latin America, and Southeast Asia, have surged, reflecting a restructuring of global supply chains. Exports to countries participating in China's "Belt and Road Initiative" have also seen significant growth. In response to the trade war, China has announced measures to counter its impact on its economy, which has been struggling to recover from the pandemic and a housing sector downturn.