China is not seeking a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.

China’s vast exports in 2024 exceeded its imports on a scale seldom seen anywhere except during or immediately after the two world wars.

Good morning. China’s trade surplus hits a record ahead of Donald Trump’s return to the White House. UK Chancellor Rachel Reeves returns from Beijing with deals and investments. And Europe’s largest pension fund sells its entire stake in Tesla.

China does not pursue a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday. Addressing the 55th annual World Economic Forum meeting in Davos,

Only a third of China’s trade surplus was with the United States, and only a third of the U.S. deficit was with China. That makes for tricky math for the president-elect.

On the eve of Donald Trump’s White House return, the Chinese government announced that last year it recorded a trade surplus of almost $1 trillion, a third of which was with the US.

Correcting the major imbalances in the global economy will require collaborative international action. If he wants results, Trump will need to rein in his penchant to go it alone.

During his first term, Trump's tariffs caused U.S. firms to flee China. Now comes Round 2, which will create new winners and losers.