China’s trade surplus broke the $1 trillion barrier for the first time in recorded history during the first 11 months of 2025, a milestone achieved despite a year of renewed trade hostilities with the U.S.
The surge highlights the complexities facing the Trump administration as it attempts to curb Beijing’s economic reach. Accruing a cumulative surplus of $1.08 trillion through November, China’s export machine has proven resilient against reciprocal tariffs and volatile trade negotiations that defined the year.
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