China's U.S.-bound shipments fell in July, survey says

China's shipments to the U.S. weakened in July after a brief rebound in June, according to a survey by China Beige Book. The U.S.based research firm said it surveyed 1,436 Chinese businesses between July 20 and July 28. The report said U.S.bound shipments declined for the first time in several months, reversing June's 14% rise in exports to the U.S. That increase had helped lift overall Chinese exports by 27%, as many companies rushed to ship goods before expected higher U.S. tariffs later in the summer. The survey also pointed to softer business conditions more broadly. Factory activity slowed, manufacturing employment worsened, and retail sales fell in July compared with both the previous month and a year earlier. Beijing has recently stressed the need to support domestic demand and strengthen trade cooperation as it seeks steadier growth.