A glimpse of Ningbo Zhoushan Port Photo: Courtesy of Ningbo Zhoushan Port

The essence of China-US economic and trade relations is mutually beneficial and win-win cooperation. Maintaining the stable, healthy, and sustainable development of these relations is beneficial not only to both countries but also to the world, Lyu Daliang, spokesperson with the General Administration of Customs (GAC), said at a press conference on Wednesday. 

The remarks were made in response to questions regarding what the US-China trade situation was like in 2025 amid the "trade war" that was launched by the US administration in 2025, and to assess the trade trend this year given the "tariff war" is currently on hold.

Data released by the GAC showed that in 2025, China's imports and exports with the US totaled 4.01 trillion yuan, accounting for 8.8 percent of China's total import and export value. According to US statistics, in the first 10 months of 2025, the US imports and exports with China amounted to $373.64 billion, accounting for 7.8 percent of the total US import and export value, according to Lyu. 

Lyu said that last year, the leaders of China and the US had multiple interactions and successfully held a meeting in Busan, South Korea, reaching a series of important common understandings. Through multiple rounds of consultations, the economic and trade teams of both sides achieved positive outcomes, leading to a phase of stabilization in China-US economic and trade relations.

Based on the goods trade statistics from both sides, China is the third-largest export destination and the third-largest import source for the US, while the US is China's largest export destination country and third-largest import source, Lyu said. 

Both China and the US should work together to implement the consensus reached by the two leaders, continuously narrow the list of issues through dialogue and cooperation, expand the list of shared interests, and make China-US economic and trade relations a stabilizer and propeller for the overall bilateral relationship, Lyu added.

Global Times