China's imports and exports grew by 5 percent year-on-year in 2024 to reach 43.85 trillion yuan ($5.98 trillion), with the total foreign trade volume setting a new record high, according to data released by the General Administration of Customs (GAC) on Monday.

This surplus was one of the highest in history, even exceeding those of Germany, Japan, and the United States. This led to tensions with trade partners and potential trade wars.

Trump has vowed to impose tariffs of as high as 60% on China, as well as lesser ones with the US’ biggest trade partners, threats that could upend global trade and economic growth.

China’s trade surplus with all nations reached a new record of nearly $1 trillion in 2024, according to multiple reports.

Official data revealed on Monday that China’s trade surplus surged to an unprecedented $1 trillion in 2024. President-elect Donald J. Trump is set to take office in less than a week, and his vows to impose punitive tariffs on China are escalating geopolitical tensions with the United States,