China Achieves Record Trade Surplus Amid Rising Rare Earth Exports

China's export of rare earth metals – important raw material for magnets in the technology industry – rose to the highest level since 2009 in June. And China's trade surplus became record-large during the first half of the year, despite the Trump tariffs.

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China Achieves Record Trade Surplus Amid Rising Rare Earth Exports
Photo: Chinatopix/AP/TT

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The increase comes after several months of uncertainty surrounding China's deliveries due to export restrictions from the country's government against the backdrop of the Trump administration's trade war against China.

Exports in June rose to 7,742 tons, an increase of 60 percent compared to June last year.

China accounts for about 90 percent of the global production of rare earth metals, while Japan and Germany also have some production.

Statistics show at the same time that China's steel industry set a new export record in the second quarter, which ended in June, at 30.7 million tons. This is an increase of 11 percent compared to June last year.

Steel exports are increasing despite the fact that US President Donald Trump has raised US steel tariffs to 50 percent, while the EU, India, and Vietnam have introduced import restrictions to protect domestic steel producers from the oversupply of Chinese steel.

If you sum up China's trade for the entire first half of 2025, it became a record surplus of $586 billion.

China's exports in June rose 5.8 percent from a year earlier to $325 billion. Imports increased by 1.1 percent, according to Chinese customs statistics.

Deliveries to the US fell by 16 percent compared to June last year after the 34 percent drop in May. But exports to Southeast Asian countries soared by 17 percent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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