China's May exports slowed to 4.8% growth, deflation deepened to 3.3%, and trade surplus rose to $103.2B amid U.S. tariffs and stimulus measures.

• Exports dropped to a three-month low, missing forecasts, as U.S. tariffs dampened shipments despite tariff cuts.
• Producer prices fell 3.3% annually, the worst in 22 months, with consumer prices dipping 0.1%.
• Trade surplus hit $103.2B; China cut rates and launched 500B yuan loans to cushion economic pressures.