President Xi Jinping’s export engine has proved unstoppable during five months of sky-high US tariffs, sending China toward a record trade surplus exceeding $1.2 trillion.
With access to the US curtailed, Chinese manufacturers have shown they aren’t backing down. But the across-the-board surge is causing alarm abroad, as governments weigh the potential damage to their domestic industries against the risk of antagonizing Beijing — the top trading partner for over half the planet.