China's trade surplus hits record nearly $1 trillion as tensions rise with U.S

China's trade surplus reached a record of nearly $1 trillion in 2024, with December alone contributing $104.84 billion. This marks a significant increase compared to previous years, highlighting China's strong trade performance. Trade tensions with the U.S. are rising as President-elect Donald Trump prepares to take office. He has proposed new tariffs on Chinese goods, which could escalate the ongoing trade conflict that began during his first term. China's trade surplus with the U.S. grew to $33.5 billion in December, up from $29.81 billion in November. Despite economic challenges, China remains a leader in global car and electric vehicle exports, dominating the market significantly.