Shipments to the U.S. sank 21% in dollar terms as Trump’s tariffs on most Chinese exports rose to as high as 145%. With Chinese tariffs on U.S. goods at 125%, business between the two biggest economies has grown increasingly uncertain.

China's exports beat forecasts in April, buoyed by demand for materials from overseas manufacturers who rushed out goods to make the most of U.S. President Donald Trump's 90-day tariff pause.