Diverging Trade Dynamics: U.S. Deficit vs. China Surplus

In the 12 months ending November 2024, the U.S. trade deficit reached $1.17 trillion, while China recorded a $0.96 trillion trade surplus. Compared to the same period in 2023, the U.S. trade deficit rose by 9.7%, and China’s trade surplus grew by 16.1%. Since the onset of the U.S.-China trade war (January 2018 to November 2024, TTM), the U.S. trade deficit has increased by 45%, while China’s trade surplus surged by 139%.