China's Trade Surplus Hits Record $213.62 Billion Despite U.S. Tensions

China's trade surplus surged to a record $213.62 billion in the combined January-February period, far exceeding the $179.6 billion expected. Exports jumped 21.8% year on year, crushing the 7.1% growth forecast, while imports rose 19.8% against expectations of 6.3% despite U.S. tension. Trade with the U.S. fell 16.9% to 609.71 billion yuan, but trade with the EU climbed 19.9% to 998.94 billion yuan and ASEAN trade rose 20.3% to 1.24 trillion yuan. China's consumer inflation also rose 1.3% in February, its strongest rebound since January 2023, while Premier Li Qiang set a GDP growth target of 4.5%–5%, the lowest range since the early 1990s.