As Beijing prepares for the inevitable implementation of new tariffs by US President-elect Donald Trump, who takes office next week, China’s economy grew more than anticipated in the final three months of 2024, according to official figures released on Friday.
Exports drove the nation’s trade surplus to a new high of well under $1 trillion last year, accounting for a large portion of the growth momentum. However, Trump, who has stated that China will be subject to 10% higher tariffs on its imports than current ones until it stops the flow of illegal narcotics into the United States, is likely to be displeased with that strength. He had threatened to impose up to 60% on all Chinese imports into the US during the campaign trail.
The NBS, the National Bureau of Statistics
