through intermediary markets

China’s direct exports to the U.S. in April plunged 21% year-on-year, with their share dropping to a historic low of 10.5%. In contrast, exports through intermediary markets such as ASEAN and Latin America surged significantly. Notably, exports to ASEAN rose by 20.8% year-on-year to a record high of USD 60.4 billion, accounting for 19.1% of total exports. Re-exports to the U.S. via key hubs like Vietnam, Thailand, and Indonesia also soared. In terms of maritime shipping, as of the end of April, the number of container ships sailing directly from China to the U.S. had dropped by 33.8% compared to April 9, when reciprocal tariffs were implemented. At the same time, China’s overall สล็อตเว็บตรง