‘Not decoupling’: what US-China trade data signals ahead of Xi-Trump summit

China’s trade with the United States has declined this year, official data shows, as US President Donald Trump heads to Beijing next week for a high-stakes visit that could determine the future of economic relations between the two superpowers.China’s merchandise exports to the US fell 10.2 per cent year on year to US$133.4 billion in the first four months of 2026, according to data released on Saturday by the General Administration of Customs. Imports from the US also declined 10.9 per cent to US$45.8 billion over the same period, bringing the bilateral trade surplus to a cumulative US$87.7 billion for the year so far.The data was released just days before Trump’s scheduled arrival in Beijing on May 14 for a crucial summit widely expected to focus on trade disputes, export controls, the Iran war and other sources of friction. China posted better-than-expected trade growth in April, with the total value of outbound shipments hitting a monthly record