At a glance
China’s trade surplus with the U.S. surged to a record monthly high in June, with exports swelling just as trade tensions between the world’s two largest economies escalated
China’s trade surplus with the U.S. surged to a record monthly high in June, with exports swelling just as trade tensions between the world’s two largest economies escalated
The June boost in China’s surplus with the U.S. to $28.97 billion was fueled in part, some economists said, by exporters accelerating deliveries to avoid the tariffs both sides imposed on each other’s goods in early July
China’s total trade surplus with all its trading partners also widened sharply, to $41.61 billion in June, chiefly, economists said, because of a weakening economy—with sluggish demand for imports rather than markedly stronger exports. That compares with the $24.92 billion surplus recorded in May and economists’ expectation of $26 billion
The record surplus with the U.S. accounted for 70% of China’s total surplus last month and is likely to offer fresh evidence for the Trump administration in its trade battle with Beijing
The White House said Tuesday it would assess 10% tariffs on $200 billion in Chinese goods. Those would come on top of levies the two governments placed on $34 billion of each other’s exports, and a second round of tariffs the U.S. has in the pipeline on another $16 billion of Chinese products
China’s Commerce Ministry issued a sharp critique of U.S. trade policy on Thursday night, accusing Washington of starting a trade fight to suit its domestic political needs and suppress China’s development. An assistant foreign minister, Zhang Jun, kept up the drumbeat at a Friday briefing, saying that the U.S.’s behavior “poses a threat to the global economy.”
