Cranes unload cargo shipping containers from the Evergreen Line Ever Mast container ship as seen from the Vincent Thomas bridge at the Port of Los Angeles in San Pedro, California, on April 15, 2025. Patrick T. Fallon/AFP/Getty Images Hong Kong —

Just a year ago, Chinese manufacturers, fearing a new trade war, rushed to push out exports following the election victory of US President Donald Trump, who had pledged to slap punishing tariffs on imports from China over America’s widening trade deficit.

A year later, Trump has delivered on his promise. But China has pivoted – and exported more.

In a striking display of resilience, the world’s second-largest economy notched a record trade surplus of $1 trillion in just the first 11 months of the year – a milestone no other nation has

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