UPDATE 1-China's June exports fall after U.S. tariff hike, imports shrink more than expected

China’s exports fell in June as the United States ramped up trade pressure, while imports shrank more than expected, pointing to further strains on the world’s second-largest economy. China’s manufacturers are struggling with sluggish demand at home and abroad, and a sharp U.S. tariff hike announced in May is threatening to crush already-thin profit margins, reinforcing views that Beijing needs to announce more stimulus measures soon. “The latest U.S. tariff hike probably contributed to this drop, alongside a broader slowdown in foreign demand,” Capital Economics said in a note.

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