"Data released on Monday shows that in the first 11 months of this year, China's trade surplus in goods was $1.076tn. The record trade surplus comes even as exports to the US have plummeted, a reflection of the bruising US-China trade war that, despite a recent cooling, has dampened the flow of goods between the world's two largest economies. Exports to the US plummeted by nearly a third in November."
"But experts believe that many of the goods bound for south-east Asia ultimately end up in the US, via a practice known as trans-shipment where products are sent via a third country to avoid tariffs. That is because the demand in the US for cheap products has not gone away, and few countries can replicate China's mammoth ability to produce consumer goods at scale at low prices."
"In the first eight months of this year, the US imported $23.1bn in goods from Indonesia, an increase of nearly a third on the same period in 2024. Experts believe this rise is largely down to Chinese goods being redirected via Indonesia. There have also been increases in imports from Malaysia and the Philippines. The statistics suggest that the huge tariffs placed by the US and China on each other's goods has dented bilateral trade but done little to change the overall flow of goods in the global economy."
China's exports boom raised its goods trade surplus to $1.076tn in the first 11 months of the year, surpassing $1tn for the first time. Exports to the US have fallen sharply, including a nearly one-third drop in November, reflecting the impact of the US-China tariff dispute. Many goods destined for south-east Asia are believed to be re-exported to the US through trans-shipment to avoid tariffs. US imports from Indonesia rose to $23.1bn in the first eight months, partly attributed to redirected Chinese goods, with similar increases from Malaysia and the Philippines. Tariffs have reduced bilateral trade but not overall global flows.
Read at www.theguardian.com
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