Chinese exporters further diversified away from the US as the country’s trade surplus topped $1 trillion, underscoring Beijing’s adaptation and resilience to American pressure.
Exports overall grew year-on-year despite plummeting sales to the US, new data showed: A trade truce between the world’s two biggest economies has proved durable so far, but tariffs on Chinese goods imported into the US remain at about 47.5%, while levies on American exports to the country are above 30%.
Chinese firms have instead ramped up sales to the EU, Japan, and Southeast Asia. Meanwhile, the Trump administration is today expected to unveil a long-awaited aid package for US farmers who have been badly hit by plummeting sales to China.
