China Has Record Trade Surplus with U.S.

China - trade

CBJ — China’s trade surplus with the United States increased to a new record last month as its overall exports grew at a rapid pace. The result of these latest statistics will only bolster U.S. President Donald Trump’s assertion that trade between the two countries is inherently unfair and will further promote his plan to implement tariffs.

President Trump recently raised the stakes in its trade war with China, saying America would impose 10% tariffs on an extra $200 billion worth of Chinese imports, including numerous consumer items.

China’s trade surplus with the United States, which is at the center of the Trump’s tariff dispute, widened to a record monthly high of $28.97 billion, up from $24.58 billion in May.

Trump, who has demanded Beijing cut the trade surplus, will most assuredly use this latest data to bolster his claims of unfairness and ratchet up pressure on China after both sides last week imposed tit-for-tat tariffs on $34 billion of each other’s goods.

@CanBizJournal

 

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