China trade surplus hits almost $1trln as tariff war looms

(Sharecast News) - China said its trade surplus reached almost $1trln last year as its exports continued to dominate with a potential trade war looming with the arrival of Donald Trump as US president. The General Administration of Customs said $3.58trln of exports left the country last year, with imports coming in at $2.59trln. The $990bn surplus broke the previous record of $838bn in 2022.

Trump, who takes office next week, has threatened to impose tariffs on China and other countries, heightening an already aggressive trade stance against the world's second-largest economy.

China also posted a record single-month surplus for December of $104.8bn, indicating some companies were shifting goods ahead of higher tariffs.

Reporting by Frank Prenesti for Sharecast.com