China's trade surplus approached $1 trillion last year due to massive exports and careful domestic spending on imports. This surpasses the previous record, indicating China's strong dominance in global manufacturing. Many countries have responded by increasing tariffs to protect their own industries. As President-elect Trump prepares to take office, further trade tensions may arise.China's trade surplus approached $1 trillion last year due to massive exports and careful domestic spending on imports. This surpasses the previous record, indicating China's strong dominance in global manufacturing. Many countries have responded by increasing tariffs to protect their own industries. As President-elect Trump prepares to take office, further trade tensions may arise.
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