China says exports jump 14.1% in April ahead of planned Trump–Xi summit

China’s exports surged 14.1% in April from a year earlier, official data released Saturday showed, marking a sharp acceleration just days before a planned meeting in Beijing next week between U.S. President Donald Trump and Chinese leader Xi Jinping. The gain came despite the Iran war and the lingering effects of higher U.S.

tariffs, and it beat analysts’ estimates. The April export performance was a marked improvement from March’s 2.5% year-on-year rise. Imports climbed 25.3%, slower than March’s 27.8% growth but still robust. The planned Trump–Xi summit comes as relations are beset by multiple issues, with efforts to end the war in Iran overshadowing usual sources of tension.

Economists said external demand remains a key prop for the economy. Lynn Song, chief economist for Greater China at ING, said overall external demand is expected to remain a solid driver of growth this year, likely led by exports of semiconductors and autos. In March, Chinese leaders set an annual economic growth target of 4.5% to 5%, slightly below last year’s 5% expansion and the lowest target since 1991.

Export momentum is expected to continue powering the broader economy, particularly as shipments to Europe, Southeast Asia, Latin America and Africa have increased in recent months. Apart from efforts to broker a peace agreement to end the Iran war, trade and export controls—including rare earths and U.S.

tech restrictions on China—are likely to feature on the agenda for the planned summit. The meeting follows a yearlong U.S.–China trade truce reached late last year, when the two leaders last met in South Korea. HSBC economists said major breakthroughs on export controls are unlikely, though the leaders’ talks may bring incremental steps to troubleshoot trade frictions.

“On balance, China looks to have more leverage,” wrote Leah Fahy, senior China economist at Capital Economics, adding that higher tariffs have not stopped China’s exports from continuing to surge over the past year and that Beijing has shown it is prepared to wait out U.S.

pressure. Rising energy costs are a headwind. Wei Li, head of multi-asset investments at BNP Paribas Securities (China), said oil and fuel price increases caused by the war in Iran are feeding higher manufacturing and logistics costs across Chinese factories, while higher global inflation could weaken consumer purchasing power in overseas markets.

Even so, China’s overall economy has remained comparatively resilient, supported by large oil reserves and more diversified energy sources. Attention now turns to next week’s planned talks in Beijing for any signs of incremental progress on trade issues and how sustained external demand will shape growth in the months ahead.