I would speculate that the reason for the deficit is because of the prohibition of sending computer chips and related manufacturing equipment from South Korea to China, that the Biden Administration just waived.
China is shifting to produce more capital goods and goods farther up the supply chain. These are the industrial inputs that typically come from South Korea, Japan and Taiwan.
It is also exporting more of these as final assembly moves to South/Southeast Asia and Mexico in order to avoid tariffs and embargos on Chinese manufactures.