China’s record-breaking trade hit first big speed bump since May

[BEIJING] China’s trade had its worst week in almost three months, a sign this year’s record-breaking volumes may be starting to slow.

Cargo throughput at the nation’s ports was 6.2 million containers last week, according to data released on Monday (Jul 28) by the Ministry of Transport. That was the lowest since the second week in May and a drop of almost 7 per cent from the previous week, according to the statement.

May and June marked a historic high point for the nation’s goods trade, with more than 30 million containers processed by the nation’s ports in each month, well above any other 30-day period on record, according to a separate release.

The unprecedented volumes have supported the broader economy as companies tried to get ahead of US President Donald Trump’s tariffs. But the boost from front-loading may start to peter out now, as the US negotiates more deals across the world and tariffs on China look likely to stay at about 50 per cent.

Air-freight demand continues to be strong, however, with almost 3,500 international cargo flights coming and going from China last week, well above the levels at this time last year. BLOOMBERG