China Exports Drop 26%

China’s shipments to the United States fell sharply again in March, extending a slide that had already started at the beginning of 2026. (cnbc.com) China’s customs data showed overall exports rose 2.5% in March from a year earlier, down from 21.8% growth in January and February combined, while shipments to the U.S. dropped 26.5%. (cnbc.com) The earlier slowdown was already visible in the first two months of the year: China’s trade with the United States fell 16.9% in yuan terms, and South China Morning Post reported exports to the U.S. were down 11% in that period. (english.www.gov.cn) (scmp.com) Washington added another trade restriction on April 2, when President Donald Trump issued a Section 232 proclamation revising tariffs on steel, aluminum and copper imports on national-security grounds. The new rules took effect April 6. (whitehouse.gov) (perkinscoie.com) That April 2 order changed how the duties are calculated by applying them to the full customs value of covered products, not just the metal content, and it expanded or revised coverage for derivative goods. (whitehouse.gov) (whitecase.com) The policy push fits a broader White House trade line set out on January 20, 2025, when Trump’s “America First Trade Policy” memorandum said trade policy should be treated as part of national security and directed agencies to review tariff tools and China-related trade measures. (whitehouse.gov) (govinfo.gov) The trade data also show the split from the U.S. has not stopped commerce altogether. U.S. Census Bureau figures show the United States still imported $21.1 billion from China in January 2026 and $19.0 billion in February, while U.S. exports to China were $8.3 billion and $7.9 billion. (census.gov) Chinese officials have pointed to other markets as a buffer. Government data for January and February showed trade with Association of Southeast Asian Nations countries rose 20.3% and trade with Belt and Road partners rose 20.0% from a year earlier. (english.www.gov.cn) A U.S.-China Economic and Security Review Commission bulletin published in February said China’s exports to the United States fell 20% in 2025, while exports to Africa, Southeast Asia and Latin America accounted for nearly three-quarters of China’s overall export growth. (uscc.gov) The next customs releases will show whether March was a one-month shock tied to higher energy costs and weaker demand, or another step in a longer rerouting of China’s export trade away from the U.S. market. (cnbc.com)