China’s Exports Rise Amid Tariff Fears
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Chinese companies rushed to ship goods before higher U.S. tariffs took effect, driving up exports by 5.4% in 2024. The jump reflects efforts to counter tariff hikes imposed by U.S. President Donald Trump, which have reached 145% on most Chinese exports bound for the U.S. This situation has led Chinese exporters to accelerate shipments to American buyers, hoping to evade the latest rises in import duties. China’s trade surplus soared to a record $992.2 billion in 2024, with the trade surplus with the United States standing at $27.6 billion in March.
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