China’s trade surplus with all nations reached a new record of nearly $1 trillion in 2024, according to multiple reports.
China’s trade surplus grew to $104.84 billion in December, and nearly $1 trillion for the year, at $992.2 billion, according to multiple reports. President-elect Donald Trump introduced various trade restrictions against Beijing during his first term, setting off a contentious trade war with China.
The president-elect, who takes office next week, has proposed imposing sweeping tariffs on goods from foreign countries, including China, Mexico and Canada. Trump’s tariff proposals include pledging to enact a 10% tariff on all Chinese goods and a 25% tariff on imports from Mexico and Canada. (RELATED: Here Are Trump’s Options For Dealing With An Imminent Nuclear Threat That’s Festered Under Biden)
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