China has kept its response to Trump’s unpredictable tariff policies deliberately calm. While the world remains distracted by the U.S. president’s bizarre and constant shifts on issues like Ukraine, the EU, the Gulf of Mexico’s name, USMCA, NATO, or whatever new policy emerges from the Oval Office, China quietly sticks to its own playbook, steadily racking up trade surpluses
In January and February 2025, China’s trade surplus surged by 36% compared to the same period the previous year. Over the last twelve months, the surplus reached a record $1.038 trillion, marking the highest-ever twelve-month figure. This represents approximately 1.4% of the global GDP, excluding China.
While China says it will impose fresh tariffs on US agricultural imports, in reality, it is doing nothing but repackaging the routine—framing as a fresh initiative what it has already been doing for some time.
China’s agrifood imports from the U.S. in 2024 were down more than one-third from their 2022 peak.
A vision of 10 years
Affordable goods shipped by China’s online merchants are now China’s second-largest export, behind only cellphones. However, potential restrictions loom to curb the flood of shipments taking advantage of the €150 tariff-free threshold. Meanwhile, more than half of the new cargo routes China is launching in 2025 are bound for Europe.
Imports in Uruguay via cross-border e-commerce had grown by 12% annually until the arrival of TEMU in 2024. Since then, there has been a 170% increase. In response, airport authorities plan to expand cargo facilities
In Uruguay, the presence of 11 Chinese electric car brands in a relatively small market signals an oversaturation of suppliers. It also reflects China’s overcapacity and raises questions about the future of many Chinese manufacturers
Besides the operations at Balboa and Cristobal ports, BlackRock acquires Hutchinson’s stakes in all its ports worldwide, except for those in Hong Kong, Shenzhen, South China, and any other ports in China.
The move follows U.S. Secretary of State Marco Rubio’s visit to Panama a few weeks ago
The first week of March marks the celebration of the Mobile World Congress in Barcelona, with over three hundred Chinese companies attending. China’s cellphone exports increased by a mere 2% in value in 2024. Latin America and Africa could not significantly offset the drop in the EU, U.S., Canada, and the UK. In Africa, the strong success of Chinese brands tailored for the region continues in Nigeria (+26%) but is dampened by sharp declines in Egypt (-45%) and Morocco (-28%).
Studies indicate that COVID-19 affected males and females differently in terms of mortality. Despite similar infection rates, males faced a higher risk of severe illness and death compared to females. While the impact varies by country and age group, the male-to-female mortality ratio is estimated to be around 1.5:1.
China’s male-to-female ratio in 2024 has declined to 1.043, down from 1.051 in 2020
Across China’s internet, numerous service companies advertise ‘solutions’ designed to ensure payment guarantees for Chinese exporters dealing with Russia. These solutions often involve Chinese banks in border cities like Harbin, Hunchun, Heihe, Jilin, and Manzhouli, as well as in Hong Kong. Service providers frequently offer the option of opening an account with VTB, a state-owned Russian bank.
Border trade exports to Russia saw a 20% increase in 2024, rising to $3.3 billion from $2.7 billion in 2023
Border trade, as defined by China Customs, refers to the exchange of goods and services between residents of areas adjacent to the borders of two countries.
On March 8 China announced tariffs on over $2.6 billion worth of Canadian agricultural and food products.
Food and agriculture make up a tiny 5.5% of China’s imports from Canada. Consider that a single category—gold—accounted for 40% of China’s imports from Canada. Another example of China’s practice of repackaging the routine. Since Xi Jinping took office, China’s imports from Canada have doubled.
A Chinese consortium, comprising UEG and China Three Gorges, will establish ammonia production facilities in Morocco. China Three Gorges is a state-owned enterprise, while UEG, listed on the Hong Kong Stock Exchange, counts China Resources, a state-owned Chinese conglomerate, as a key shareholder.
Last week, a Moroccan government committee approved six green hydrogen projects with a reported value of up to $32.5 billion
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