China's Export Volumes Are Defying Expectations

China just crossed a fresh line in the global auto fight: more than 1 million cars shipped abroad in a single month for the first time. New customs figures show June's record car exports helped drive a 27% year-over-year jump in China's overall outbound trade, above the 19% Bloomberg economists and 18% Wall Street Journal economists had expected. That keeps Beijing on pace to match or top last year's roughly $1 trillion global trade surplus, reports the Guardian. It cites an analysis by Berlin-based thinktank Merics that found China booked a roughly $1.03 billion-a-day trade surplus with the EU in the first half of 2026.

While auto export volumes were up 72% YOY in June, the Journal reports "surging semiconductor prices remained the main driver of China's export growth" that month.