Overview
- Official customs data show a January–November 2025 trade surplus of $1.08 trillion, the first time it has exceeded $1 trillion.
- China’s exports rose 5.9% year over year in November, beating forecasts after October’s first decline since February.
- Shipments to the United States fell 28.6% in November to $33.8 billion, down from $47.3 billion a year earlier.
- Imports increased 1.9% in November, undershooting expectations and underscoring weak domestic demand and a property-sector drag.
- Analysts say weaker U.S. sales were offset by gains in other markets, while President Emmanuel Macron threatened tariffs in the coming months if the EU’s trade gap with China keeps widening.