China has reached a record $1 trillion trade surplus despite U.S. tariffs, driven by strong global demand for its high-tech goods, expanded market diversification, and soft domestic consumption.

China's premier says higher tariffs have dealt a “severe blow” to the world economy, even as China's own trade surplus has surged past $1 trillion.

China's Premier Li Qiang on Tuesday urged trading partners to reject rising protectionism, a day after the world's second-largest economy posted a record $1 trillion trade surplus driven by a rush of exports to non-U.

Sheinbaum's Thursday presser covered Mexico's new tariffs, tension with the US over water deliveries and plans to attract Chinese tourism.

Despite U.S. ‍pressure to curb reliance on Chinese technology and ⁠components, imports from China stood at about $168 billion through November, up nearly 30% on the year and already well above all of 2024, itself a record year, Vietnamese data shows.

Mexican lawmakers are slated to begin debate this week on a bill to raise tariffs on goods from China and other Asian countries, three ruling party lawmakers told Reuters, amid fierce opposition from China and Mexican business groups.

Tariffs seem like holiday background noise, but Trump's 2026 trade decisions could move inflation, markets, and the U.S. economy in a big way.