China’s Trade Surplus Passed $1 Trillion. U.S. Shelves Did Not Move.

China’s goods trade surplus reached $1.04 trillion in the first 10 months of 2026, customs data reported by CNBC on Nov. 10 showed, and no U.S. shop price was changed. The 2025 surplus was a record $1.2 trillion for the full year. This year passed $1 trillion with two months left.

October exports rose 35.2% from a year earlier, ahead of a 33.5% forecast. Imports rose 41.6%, ahead of a 32% forecast. CNBC calculated that high-tech imports jumped 72% by value. Crude oil, liquefied natural gas, and coal imports rose about 41%, 50%, and 60% by value. Exports to the United States rose 32.9%, and the monthly surplus with the United States was $32.7 billion.

Those flows matter to firms that buy Chinese goods or sell energy and equipment to China. They are not a U.S. grocery or gasoline receipt. A U.S.-China trade truce is due to expire in January, so next year’s pace is still a forecast.

Could this surplus raise a U.S. grocery or fuel bill now? No U.S. retail price was announced. The Nov. 10 facts are the $1.04 trillion surplus and October’s trade surge, including a $32.7 billion monthly surplus with the United States.