Global Economy

China’s customs agency said Monday, Dec. 8, 2025, that its annual trade surplus has surpassed $1 trillion for the first time, as November exports rose 5.9% year over year even while shipments to the United States plunged nearly 29% under U.S. tariffs. The report notes U.S. import taxes on Chinese goods peaked at 145% this spring and have been reduced to 47.5%, and that China has redirected exports to Europe, Africa, Latin America and the rest of Asia.