China’s Trade Ends 2025 With Record $1.2 Trillion Surplus Despite Trump Tariff Jolt

China on Wednesday reported a record trade surplus of nearly $1.2 trillion in 2025, led by booming exports to non-U.S. markets as producers looked to build global scale to fend off sustained pressure from the Trump administration.

A push by policymakers for Chinese firms to diversify beyond the world's top consumer market by shifting focus to Southeast Asia, Africa and Latin America paid dividends, cushioning the economy against U.S. tariffs and intensifying trade, technology and geopolitical frictions since President Donald Trump returned to the White House last year.

"China's economy remains extraordinarily competitive," said Fred Neumann, chief Asia economist at HSBC. "While this reflects gains in...

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