China shrugs off Trump tariffs to post record trade surplus

China has shrugged off US President Donald Trump’s punishing tariffs to post a record-high trade surplus of US$1.189tn in 2025, driven by a surge in exports to non-US markets.

The data, released by the General Administration of Customs on 14 January, showed that outbound shipments grew 6.6% in value terms year on year, while imports jumped 5.9%, Reuters reported.

In total, China’s foreign trade value in 2025 reached 45.47tn yuan (US$6.48tn), up 3.8% year on year, according to the customs data.

China’s 2025 foreign trade achievements were “truly remarkable and hard won” amid global economic challenges, Wang Jun, deputy head of the General Administration of Customs, said during a press conference.

Wang attributed the record trade surplus to the country’s pro-trade stabilisation polices, sustained release of import demand and an industrial system that “continuously adapts” to evolving overseas needs.

“While the external environment facing China’s foreign trade this year remains severe and complex, the fundamentals of the country’s foreign trade remain solid, which will inject more certainty into global economic and trade development,” Wang added.

China, the world’s second-largest economy, was targeted by Trump with punishing tariffs in 2025, sparking tit-for-tat levies between the two countries that reached as high as 145% on China and 125% on the US.

In October, Trump and Chinese President Xi Jinping agreed to extend a trade truce for one year, with US tariffs on China set at 47.5% and China’s levy on the US at 31.9%, according to data compiled by the Peterson Institute for International Economics.

During his annual address to the Chinese People’s Political Consultative Conference on 31 December, President Xi said that China was on track to reach its 5% growth target in 2025.

Meanwhile, Wang said that China’s focus on expanding its trade network was paying off, with exports to and imports from Asean member nations, Latin America and Africa surging 8%, 6.5% and 18.4%, respectively.

However, countries participating in China’s Belt and Road Initiative (BRI) – a global infrastructure and investment strategy that aims to develop new trade routes – were key drivers of the current trade surplus growth, Wang added.

Bilateral trade with BRI partner countries reached 23.6tn yuan, increasing 6.3% year on year and accounting for 51.9% of China’s total foreign trade value, Wang said.