Is China winning the trade war against the US? Here’s what the data says

The yearslong trade war between China and the United States was amplified in February 2025 when President Donald Trump imposed tariffs on the Asian nation, Canada and Mexico on February 1. Since then, the two countries have been entangled in a chaotic relationship, with tit-for-tat tariffs at times reaching triple-digit levels.

But after Trump and Chinese leader Xi Jinping met in South Korea last Thursday to discuss trade and other issues, Trump agreed to lower tariffs on Chinese goods by 10% in exchange for promises that Beijing will crack down on the flow of fentanyl into the US. The effective tariff rate will still stand at around 47% for Chinese goods entering the US.

But how is China doing since Trump started his second term as president and tariffs have been levied worldwide? Here’s what the data says.

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