President Donald Trump’s effort to target China through its trading partners across global supply chains threatens to erode the country’s growth and most of its exports to the US, according to Bloomberg Economics.

China's shipments of rare earth magnets to the United States jumped sharply in June. The rebound came after months of disruption and signaled renewed momentum in critical mineral trade between the two countries.

How, then, to explain the resilience of China’s exports in the turmoil of the global trade war? Some companies have been “front-loading”, or shipping extra goods to America, on fears that the truce will not hold and levies will increase further later.