China's May exports rose 4.8% YoY, below forecasts, with U.S. shipments down 10%. Imports fell 3.4%, creating a $103.2B surplus. Trade talks continue amid delayed tariffs.

• U.S.-China trade surplus hits $18B in May as U.S. exports fell 10% while imports dropped 7.4%.
• April exports surged 8.1% as firms rushed to avoid higher U.S. tariffs before the 90-day delay.
• Next U.S.-China talks in London aim to resolve disputes on semiconductors, rare earths, and student visas.