According to analysis by the McKinsey Global Institute, when the United States implemented new tariffs in 2025, China's exports of consumer goods saw their first decline since 2019. However, exports of intermediate inputs and capital goods increased by more than $175 billion compared to the previous year, pushing China's trade surplus to a record $1.2 trillion—indicating that the nature of China's exports has fundamentally changed.
"It used to be that Germany and Japan were leading the way," said Frank Jiang, Vice President of International Business at Topstar. "But… our products have already caught up with theirs…"
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- Source: PR Times
- Category: News