Overview
- China’s customs agency reported a January–November trade surplus of $1.080 trillion, the highest on record for the period.
- Overall exports rose 5.9% year over year in November after an October decline, beating Bloomberg’s 4% forecast.
- Exports to the United States fell 28.6% in November to $33.8 billion from $47.3 billion a year earlier.
- Imports gained 1.9% year over year in November versus a 3% forecast, which economists say underscores weak domestic demand and property-sector strains.
- Analysts say sales to non‑US markets have absorbed much of the rerouted supply, while France’s Emmanuel Macron warned of EU tariffs within months unless the bloc’s trade gap with China narrows.