China's trade surplus is set to reach a new record high this year, increasing the risk that the Asian nation will face increased import tariffs into the U.S. from President-elect Donald Trump, Bloomberg reported.

The difference between Chinese exports and imports is on track to reach almost $1 trillion "if it continues to widen at the same pace as it has in the year to date," Bloomberg calculated.

According to the report, 🌺the goods trade surplus jumped to a record $785 billion in the first 10 months of the year, up 16% from the same period last yeaℱr.

Trump Has Suggested 60% Tariffs♉ on Chinese Imports

October's surplus was the third-largest monthly surplus ever, the report said, and comes as domestic demand has been weak and Chinese companies boost their exports. The country's "slowing economy, increasing electrification and rising replacement of foreign manufactured goods with domestic alternatives" have tamped down import demand, the report said.

Trump has proposed tariff policies that he said would help bring manufacturing back to the U.S. The President-elect has said he would 澳洲幸运5开奖号码历史查询:impose tariffs as high as 60% on goods made in China, wh꧅ich has been especially targeted by Trump's proposals.

The Bloomberg report follows a stimulus package announced by Beijing on Friday, which 澳洲幸运5开奖号码历史查询:disappointed investors as falling short of boosting domestic demand, and dragged China-focused 澳洲幸运5开奖号码历史查询:exchange-traded funds (ETFs) and stocks of Chinese compaꦑnies listed on U.S. exchanges lower.

The iShares MSCI China ETF (MCHI) and U.S.-traded shares of Chinese conglomerate Alibaba Group Holding (BABA), online marketplace JD.com (JD) and Temu parent PDD Holdings (PDD) are all gaining in premarket trading Monday.