Trump's Tariffs Have Failed To Slow China's Export Machine As Growth Holds Firm At 5%: 'Hard To See This Last Though,' Says Leading Economist

Benzinga

China kept export momentum despite steep U.S. tariffs, shifting sales toward Europe and East Asia and posting a massive trade surplus that analysts say may be even larger due to hidden global value-chain content.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03China maintained strong export momentum this year despite steep U.S. tariffs,

00:07according to IMF First Deputy Managing Director Gita Gopinath.

00:11In a post on X on Monday, she said China offset lost U.S. market share

00:16by expanding exports to Europe and East Asia, helping drive 5% economic growth.

00:22China reported a 5.4% year-over-year export increase totaling $3.4 trillion

00:28and a $1.08 trillion trade surplus through the first 11 months of the year.

00:33Bank of America data showed China's trailing 12-month surplus reached $1.2 trillion in August.

00:39Analysts, including Peter Thiel and Brad Setzer, said China's true surpluses may be far larger

00:44due to embedded Chinese content in global imports and unreported income

00:48that Setzer estimated above $500 billion.

00:51For all things money, visit Benzinga.com.

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