BEIJING/HONG KONG – When U.S. President Donald Trump took office a year ago with an “America First” agenda, many saw trouble for China’s sluggish economy, but Beijing has thawed frosty relationships with other trade partners to post a record trade surplus.
While Trump’s policies have strained ties with traditional U.S. allies, China has turned its focus to fostering ties with key partners, including Canada and India, analysts say.
As a result, the world’s second-largest economy’s trade surplus hit a record $1.2 trillion in 2025, monthly forex inflows touched $100 billion, the largest ever, and the global usage ?of China’s currency, the yuan, has expanded.
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