On Dec. 8, China’s customs agency announced that the country had reached a trade surplus of $1.08 trillion this year through the end of November. This marks a 21% increase over the same period last year, and the first time China has surpassed the $1 trillion mark. According to reports, China’s exports to Europe, Australia, and Southeast have surged, while exports to the U.S. have dropped by almost 20% in the wake of the Trump administration’s tariff policy.
Reuters reports that Chinese exports to the United States dropped 29% year-on-year in November, while they increased to the European Union by 14.8%. Shipments to Australia surged 35.8%, and the fast-growing Southeast Asian economies took in 8.2% more goods over the same period.
