Germany’s exports jumped 11% on a year earlier to a new record. That also pulled the trade surplus up to 25.3 billion euros ($27.6 billion), or 21% higher than expected. EU-bound exports climbed 9%, but could slow after German managers’ export expectations slipped in April. Exports to China increased for a sixth straight month, but lagged the national average for China. U.S.-bound exports actually fell 10%, which cut the surplus in dollar terms by 17%. That should reduce trade-related political friction between the two countries.