China is shipping more goods to Southeast Asia and other regions that often re-export them to the United States. China still sells three times as much to the United States as it buys.

China has reported its exports surged 7.2% in July from a year earlier while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of a truce in President Donald Trump's trade war with Beijing.

Analysts warn that the higher U.S. tariffs risk substantially diminishing the allure of Indian exports to the U.S., compared to regional peers.

Trump’s crushing 50% tariff plan on Indian exports has investors spooked. With FII flows in limbo and no US-India trade deal in sight, analysts warn of a sharp hit to textiles, chemicals, auto ancillaries,