China's trade surplus in goods has exceeded US$1.1 trillion in the first 11 months of 2025, setting a new annual record as exports outpaced imports by a wide margin. The surplus continues to grow despite US tariffs aimed at curbing Chinese shipments, reports Fort Lauderdale's Maritime Executive.

The Trump administration imposed steep tariffs in early 2025 to reduce reliance on Chinese imports. While exports to the US fell about 20 per cent year over year, Chinese manufacturers redirected goods to Europe, Southeast Asia, Latin America and Africa.

China's industrial capacity, backed by government support, drove manufacturing up six per cent through November. Weak domestic consumption and intense competition pushed firms to seek overseas buyers, fuelling the imbalance and frustrating trade partners.

French President Emmanuel Macron warned the surplus is unsustainable, saying China is "killing their own clients" by importing little from Europe. He urged Beijing to rebalance trade relations.

In the US, Chinese goods are unlikely to rebound soon. The National Retail Federation's Global Port Tracker projects import volumes will continue to decline through the first half of 2026. Hackett Associates said tariff effects and uncertainty will weigh on cargo demand, with double-digit declines possible in the first quarter.