China exports plummet to lowest point since start of COVID pandemic as US firms turn away from rival amid tensions

China’s exports plummeted to their lowest level since the beginning of the pandemic as Western demand tails off, battering the world’s second-largest economy.

Chinese shipments fell by 14.5% in July compared to the same month last year and imports dropped by 12.4% as the ruling Communist Party struggles to dig out of its post-COVID funk, according to data released by Beijing on Tuesday.

The sagging figures dovetail with US Commerce Department data which show that American imports from China fell by 25% during the first half of this year.