China's annual trade surplus hits a record $1.2 trillion, even as exports to U.S. decline by 20%
www.cnbc.com

... Exports surged 6.6% in U.S. dollar terms last month from a year earlier, topping Reuters-polled analysts' median estimate for a 3% growth.

Imports rose 5.7% in December from a year earlier, topping expectations for a 0.9% growth.

Shipments to the U.S. plunged 30% in December from a year ago, declining for a ninth straight month. ...

After 25 years, Europe and South America formalize world's largest free-trade zone
courthousenews.com

... European Commission President Ursula von der Leyen and European Council President Antnio Costa signed a landmark trade agreement with South American nations Saturday, creating the world's largest free-trade zone covering more than 700 million people.

The ceremony in Paraguay's capital brought together leaders from the EU and Mercosur " the South American trade bloc of Argentina, Brazil, Paraguay and Uruguay. They finalized an agreement the European Commission adopted in September, and EU member states approved last week.

"We are creating the largest free trade zone in the world, a market worth almost 20% of global GDP," von der Leyen said at the signing ceremony in Asuncion. "This agreement sends a strong signal to the world. It reflects a clear and deliberate choice. We choose fair trade over tariffs, we choose a productive, long-term partnership." ...