Donald Trump’s tariff war with China is backfiring—with Beijing moving on to cut deals with the rest of the world instead.

A New York Times analysis found that China is offsetting its decline in exports to the U.S. with “breathtaking speed,” by dramatically increasing exports to dozens of other nations.

Between the third quarters of 2024 and 2025—when Trump and Beijing imposed reciprocal tariffs—China’s trade with the U.S. fell by roughly $38 billion.

However, over the same period, Chinese exports to Hong Kong increased by $12 billion, Vietnam by $11 billion, Thailand by $5 billion, and the European Union by $15 billion, among others.

The Times notes that this pivot was not solely a reaction to Trump’s tariffs. China has been seeking trade relationships beyond the U.S. for years, in pu

See Full Page