China's trade surplus reaches record nearly $1 trillion in 2024

China's trade surplus reached a record nearly $1 trillion in 2024, with $361 billion of that surplus coming from the U.S. This increase comes just before Donald Trump's second inauguration, amid expectations of new tariffs on Chinese goods. Exports rose 10.7% in December compared to the previous year, while imports grew only 1%. The December trade surplus was $104.8 billion, the highest for a single month, reflecting a shift in production strategies as manufacturers diversify away from China. Analysts noted that the share of U.S. exports in China's total shipments is declining, while exports to Southeast Asia increased significantly. This shift may help China mitigate potential trade tensions with the U.S. in the future.