US EditionChinese Premier Cites Damage From US Tariffs, as China's Surplus Surpasses $1 Trillion
Exports to Europe, Australia, and South-East Asia surged while shipments to the US dropped nearly 30%, pushing China's trade surplus above $1 trillion, customs data showed.
- By last month, China's trade surplus topped $1.5 trillion as Chinese exporters shifted shipments from the United States toward Europe, Australia and South‑East Asia.
- Policy shifts after the US election accelerated exporters' market diversification, as Xi and Trump agreed to scale back some tariffs at the October 30 meeting, but the average US tariff on Chinese goods remains 47.5.
- November data revealed overall export growth alongside sharp US declines, with Chinese exports rising 5.9% while shipments to the United States plunged 29%, according to Chinese customs.
- The Politburo of the Communist Party pledged on Monday to expand domestic demand to reduce export reliance, while Premier Li Qiang warned higher tariffs have dealt a severe blow amid a soft domestic property sector.
- Economists estimate the lost US access shaved export growth by roughly 2 percentage points, about 0.3, while analysts say trade rerouting offsets US tariff drag, supporting resilience.
30 Articles
30 Articles
China's trade surplus has exceeded $1 trillion for the first time. Despite Trump's tariffs, the global economy remains unbalanced. Europe is planning countermeasures.
$1 trillion trade surplus leaves China dangerously dependent
China’s goods surplus has shattered a $1 trillion record for the first time, and shows signs that it will keep rising. While this demonstrates Beijing’s manufacturing dominance, it also uncovers a dangerous dependence on other countries beginning to question whether China’s growth is coming at the expense of everyone else. There is more to the [...]Read More...
Associated Press News
Chinese premier cites damage from US tariffs, as China's surplus surpasses $1 trillion
China's premier says higher tariffs have dealt a “severe blow” to the world economy, even as China's own trade surplus has surged past $1 trillion.
Despite the decline in exports to the United States, China continues to inundate other geographical areas of its products.
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