China is hurtling towards a record $1.2 trillion trade surplus.
Photographer: Qilai Shen/BloombergTrade
China Floods the World With Cheap Exports After Trump’s Tariffs
Shipments have soared outside the US this year, but countries dealing with the glut appear reluctant to take on another trade war — for now.
President Xi Jinping’s export engine has proved unstoppable during five months of sky-high US tariffs, sending China toward a record $1.2 trillion trade surplus.
With access to the US curtailed, Chinese manufacturers have shown they aren't backing down: Indian purchases hit an all-time high in August, shipments to Africa are on track for an annual record and sales to Southeast Asia have exceeded their pandemic-era peak.