Core Insights - In June 2025, China's imports of automatic data processing equipment parts and accessories reached 4,500 tons, marking a year-on-year increase of 21% with an import value of $2.352 billion, up 10.2% year-on-year [1] - Exports for the same category amounted to 60,800 tons, reflecting a year-on-year growth of 19.5%, with an export value of $3.178 billion, which is a 5.6% increase year-on-year [1] Import Data Summary - The import quantity of automatic data processing equipment parts and accessories in June 2025 was 4,500 tons [1] - The import value for the same period was $2.352 billion [1] - Year-on-year growth rates for imports were 21% in quantity and 10.2% in value [1] Export Data Summary - The export quantity of automatic data processing equipment parts and accessories in June 2025 was 60,800 tons [1] - The export value for the same period was $3.178 billion [1] - Year-on-year growth rates for exports were 19.5% in quantity and 5.6% in value [1]

Core Viewpoint - The article highlights a significant decline in China's exports to the United States, with a year-on-year decrease of 10.9%, leading to China dropping from the largest exporter to the third largest exporter to the U.S. [1] Export Trends - In January, the U.S. imported $43.85 billion worth of goods from China, which plummeted to $21.79 billion by May, a reduction of over $22.1 billion [1] - The decrease in imports from China does not indicate a reduction in U.S. demand; instead, the U.S. has increased imports from other countries, including Taiwan, Mexico, Vietnam, India, and Thailand [2] Top Exporting Countries to the U.S. - The top ten countries and regions that increased their exports to the U.S. by May include Taiwan, Mexico, Vietnam, India, Thailand, South Korea, the Netherlands, Belgium, Denmark, and Brazil [2] - Notably, Mexico and Vietnam have emerged as significant players, with Mexico's exports to the U.S. rising from $42.01 billion in January to $46.70 billion in May, an increase of $4.69 billion [3] Product Overlap - The top three exports from Mexico to the U.S. in May were computers, automobiles, and parts, while China's top exports to Mexico included automobiles and communication equipment, indicating a strategic overlap in product categories [4] - Similarly, Vietnam's top exports to the U.S. included computers and communication equipment, which align with China's exports to Vietnam, such as integrated circuits and flat panel displays [5][6] India's Export Dynamics - India's exports to the U.S. in May featured a diverse range of products, with communication equipment being the top category, mirroring China's leading export to India [7] Thailand's Export Profile - Thailand's exports to the U.S. also showed significant overlap with China's exports to Thailand, particularly in communication equipment and vehicle parts [8] Strategic Responses - In response to the changing trade dynamics, companies are likely to localize production and manage supply chains more effectively, with a focus on countries that are increasing their exports to the U.S. [9]

相关报告：智研咨询发布的《2025-2031年中国数据处理器行业市场产销格局及产业趋势研判报告》 根据中国海关数据显示：2025年5月中国自动数据处理设备的零件、附件进口数量为0.43万吨，同比增 长9.1%，进口金额为17.82亿美元，同比下降11.1%，2025年5月中国自动数据处理设备的零件、附件出 口数量为6.29万吨，同比增长22%，出口金额为29.74亿美元，同比增长3.9%。 数据来源：中国海关，智研咨询整理 数据来源：中国海关，智研咨询整理 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 ...

Core Points - The trade between China and the US has significantly declined due to extreme tariffs, but it has not reached zero [1][2] - In April 2025, China's exports to the US decreased by 21.0% year-on-year, while imports fell by 13.8% [2] - The tariffs imposed by both countries have led to a substantial impact on bilateral trade, with no clear winners in the trade war [2][4] Trade Statistics - In April 2025, the US saw a 29.1% decrease in exports to China and a 19.7% decrease in imports from China [2] - The share of US exports to China fell to 12.7%, with a significant drop to 10.5% in April 2025 [4] - The trade deficit between the US and China was recorded at $295.4 billion, a decrease of $79.8 billion [5][6] Impact of Tariffs - The extreme tariffs have resulted in a sharp decline in specific categories of goods, with some categories experiencing declines over 60% [10][12] - The largest category affected was "electromechanical, audio-visual equipment and parts," which saw a 29.2% decrease, accounting for 41.7% of China's total exports to the US [10][11] - The tariffs have particularly impacted small and medium-sized enterprises that export these goods, indicating a broader economic impact [12][14] Trade Dynamics with Other Countries - Vietnam has emerged as a significant intermediary for Chinese exports to the US, with a 54.9% increase in US imports from Vietnam in April 2025 [7][8] - The trade dynamics indicate that while Mexico's role has diminished due to tariffs, Vietnam continues to facilitate indirect exports from China to the US [6][7] - ASEAN countries have also seen an increase in exports from China, with a 20.8% growth in April 2025 compared to other regions [9]

| 北京市通商律师事务所 | | | | | | | --- | --- | --- | --- | --- | --- | | 关于 | | | | | | | 长飞光纤光缆股份有限公司 | | | | | | | 法律意见书 | | | | | | | 二 O 二五年六月 | | | | | | | 释 义 | | | | | | | 除非另有说明或依据上下文应另作解释，本法律意见书中相关词语具有以下 | | | | | | | 特定含义： | | | | | | | 公司、长飞光纤 指 | | 长飞光纤光缆股份有限公司 | | | | | 本计划、员工持股计 | | | | | | | 指 | 2025 年员工持股计划 | 长飞光纤光缆股份有限公司 | | | | | 划、本员工持股计划 | | | | | | | 《员工持股计划（草 | 2025 年员工持股计划（草 | | 《长飞光纤光缆股份有限公司 | | | | 指 | | | | | | | 案）》 案） | | | | | | | 》 | | | | | | | 《长飞光纤光缆股份有限公司 | 2025 年员工持股计划管理 | | | | | ...