Export Data Overview - In October, China's exports (in USD) recorded a year-on-year decline of -1.1%, down from +8.3% in September, marking the first negative growth since March 2025[3] - Exports to the US saw a significant drop of -25.2%, slightly improving from September's -27.0%[3] - Exports to ASEAN maintained resilience with a growth rate of +11.0%, down from +15.6% in September[3] Regional Export Performance - Exports to the EU grew by only +0.9%, a sharp decline from +14.2% in September[3] - Exports to Africa and Latin America still showed positive growth but decreased significantly, from +56.4% and +15.2% in September to +10.5% and +2.1% respectively[3] Product Category Insights - Labor-intensive products like clothing, bags, and footwear experienced substantial declines, with growth rates of -16.0%, -25.7%, and -21.0% respectively[3] - High-tech manufacturing exports remained strong, with mobile phone exports dropping from -1.7% in September to -16.6% in October, while integrated circuits, automobiles, and ships recorded growth rates of +26.9%, +34.0%, and +68.4% respectively[3] Seasonal and Trade Relationship Factors - October's export data reflects seasonal trends, with a historical average month-on-month decline of -3.8% due to the National Day holiday[3] - The easing of US-EU trade tensions has contributed to the decline in exports to the EU, with a month-on-month decrease of -8.6% in October[3] - The phenomenon of "export rush" appears to be waning, impacting growth rates to ASEAN and other emerging markets[3] Future Outlook and Risks - There is a potential risk of further decline in export growth rates in Q4, with the possibility of turning negative due to higher base effects in November and December[3] - Ongoing uncertainties in US-China trade relations and a potential slowdown in global economic growth pose additional risks to export performance[3]

新华社北京8月5日电 德国副总理兼财政部长克林拜尔4日在华盛顿表示，欧盟在与美国的贸易谈判中表 现得过于软弱，应该更加强硬。他认为，双方上个月达成的协议仍有许多需要澄清的地方。 "作为欧洲人，我们必须更强硬。"克林拜尔在和美国财政部长贝森特会晤前说，"这样我们在面对美国 时就可以变得更加自信。不是对抗美国，而是和美国对话"。 克林拜尔认为，应尽快解决欧美间的贸易冲突。"尽管我今天不是来谈判的，这是欧盟委员会的任务， 但我和贝森特的沟通有助于澄清一些事情。" （文章来源：新华网） 克林拜尔说："我认为重要的是，德国方面要持续发出明确信号：我们希望与美方密切合作、寻求对 话，不回避困难，研究如何共同解决问题。" 美国总统特朗普和欧盟委员会主席冯德莱恩7月27日在位于英国苏格兰南艾尔郡的特恩贝里高尔夫球场 共同宣布，美欧达成新贸易协议。在与冯德莱恩举行非正式会晤后，特朗普透露了新协议的部分细节， 包括美国将对欧盟输美产品征收15%的关税、欧盟将对美增加6000亿美元投资及购买价值7500亿美元的 美国能源等。 ...

Core Viewpoint - President Trump has stated that the U.S. is not seeking an agreement with the European Union (EU) and indicated that discussions about delaying tariffs could occur if the EU shifts its stance towards the U.S. [1] Group 1 - The U.S. administration is currently not pursuing a trade agreement with the EU [1] - There is a possibility of discussing the postponement of tariffs if the EU begins to align more closely with U.S. interests [1]