Driving the news: Despite nearly a decade of US tariffs under President Donald Trump , China’s trade surplus has exploded, hitting $1.08 trillion through November - the highest ever recorded globally and a level China didn’t reach until year-end just last year. The record, announced by China’s customs agency this week, represents a 21.7% increase over the same period in 2024 and underscores China’s rising dominance in global exports. “They should not be surprised that China is able to find markets outside of the advanced economies,” Mary Lovely, senior fellow at the Peterson Institute for International Economics, told the New York Times.

Why it matters President Trump’s trade war strategy - featuring sweeping tariffs, tough rhetoric, and promises to rebuild US manufacturing -

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