A ro-ro vessel loads electric vehicles for export at a berth of Lianyungang Port's Dongfang Port Branch in Lianyungang, East China's Jiangsu Province, on May 15, 2026. Photo: VCG
China-US goods trade totaled 2 trillion yuan ($294.1 billion) in the first half of the year, accounting for 7.9 percent of China's total foreign trade, with the second quarter rebounding to 13.7 percent growth after an 18.7 percent slump in the first quarter, a customs official said at a press conference on Tuesday in response to a question about the recent acceleration in Chinese exports to the US and the outlook for bilateral trade in the second half.
A Chinese expert said that the recovery of China-US goods trade in the second quarter, with bilateral trade turning positive after a decline in the first quarter, was mainly driven by improving trade relations and lower US tariff rates, which helped restore market confidence and support trade activity.
In May, the meeting between the heads of state of China and the US set a new orientation for bilateral relations, which has provided stable expectations and injected positive momentum into economic and trade ties between the two countries, the official said.
Guided by the important common understandings reached by the two heads of state, the General Administration of Customs will, staying committed to safeguarding customs security and promoting development, work together with all relevant government departments to facilitate the stable development of China-US economic and trade relations, the official said.
China's shipments to the US jumped about 14 percent in June, while imports grew 26 percent, according to CNBC calculations of the official data.
China's exports to the US returned to positive territory in the first half of this year after experiencing double-digit year-on-year declines for most of last year, CNBC reported.
China and the US have maintained extensive economic and trade ties despite fluctuations in recent years. Bilateral goods trade reached a record high of $759.4 billion in 2022, according to Chinese customs data.
The second-quarter trade data reflects the strong complementarity between the Chinese and US economies, Zhou Mi, a researcher at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Tuesday. He said that improved trade communication following the meeting between the two countries' leaders has boosted market expectations for a more stable trade environment. If both sides avoid returning to a cycle of pressure and countermeasures, bilateral trade could continue to recover toward a level that better reflects market demand.
Zhou said that US demand for essential consumer goods and intermediate products, including components, remains an important driver of trade, while agricultural products such as soybeans also have growth potential. He noted that China-US economic and trade cooperation is rooted in mutual benefits, with both sides' strengths and market needs creating room for continued cooperation.
Soybeans have long been a key agricultural export from the US. China is one of the world's largest soybean importers, and US soybean exports to China have been an important part of bilateral agricultural trade.
China has purchased more soybeans from the US, according to people familiar with the matter, as the key agricultural trade gained momentum following the meeting between the leaders of the two nations in May. The US Department of Agriculture said last month that Chinese buyers had already committed to buying 200,000 tons of American beans, Bloomberg reported on July 7.
Zhou added that the expansion of agricultural trade, including soybean imports, reflects the alignment of market needs and efforts by both sides to move toward cooperation.
The two sides should maintain a stable and predictable trade environment, and lower trade costs and improve facilitation measures, while exploring new ways to expand markets and promote more sustainable economic and trade cooperation, the expert added.