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In 2025, China's overall trade surplus hit a record ~$1.2 trillion, driven by surging exports to non-U.S. markets (ASEAN, EU, Africa) as U.S. tariffs (due to a renewed Trump administration) caused a significant drop (around 20%) in China's exports to the U.S.; China's exports to the U.S. fell by 20%, while imports from the U.S. dropped by 14.6%