China surpasses $1 trillion trade surplus despite Trump tariffs
Chinese President Xi Jinping and foreign leaders arrive to attend the opening ceremony of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) at the Great Hall of the People in Beijing, capital of China, September 5, 2024.
Image: Xinhua
China’s annual trade surplus, the difference between money spent on imports and money earned from exports, has exceeded $1 trillion for the first time, despite a trade war initiated by U.S. President Trump.
Graphic charts China’s growing trade surplus since 2010.
Image: Graphic News
China, the world’s second-biggest economy, remains mostly unscathed from the standoff with the United States, delivering more goods to markets other than theirs – a case in point being exports to Africa which surged almost 28% in November.
The export dominance of China is creating resentment around the world, with countries such as France threatening to impose its own tariffs on China if it does not do something to rectify the imbalance.
Graphic News