Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
Last updated 4 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
China’s trade surplus with US swells in June
July 13, 2018
 Print    Send to Friend

BEIJING: China’s surplus with the US swelled in June, data showed on Friday, likely stoking tensions with Donald Trump, who has imposed tariffs on billions of dollars of Chinese goods citing unfair trade practices.

The increase came as total trade between the world’s top two economies rose 13.1 per cent for the first half of the year, despite the face-off, which has seen tit-for-tat tariffs on billions of dollars worth of goods and warnings of more to come.

China’s surplus with the US rose to $133.8 billion in January-June and a record $28.97 billion last month.

The imbalance is at the heart of Trump’s anger at what he describes as Beijing’s unfair trade practices that are hurting American companies and destroying jobs.

But on Thursday, China blamed those problems on the US, saying the trade imbalance was “overestimated” and caused by “domestic structural problems” in the United States, in a statement from the commerce ministry.

“This trade dispute will definitely have an impact on China-US trade and will have a very negative impact on global trade,” said customs administration spokesman Huang Songping at a briefing on Friday.

With the wider world, China’s exports rose 11.3 per cent on-year in June, beating a Bloomberg News forecast of 9.5 per cent, while imports increased 14.1 per cent, below the forecast 21.3 per cent.

Agence France-Presse

Add this page to your favorite Social Bookmarking websites
Post a comment
Other Latest News
Maldivian police raid opposition HQ ahead of vote
MALE: Maldivian police raided the opposition campaign headquarters on Saturday, the opposition said, on the eve of Sunday's presidential election that international monit..
Japan space robots start asteroid survey
Tokyo: A pair of robot rovers have landed on an asteroid and begun a survey, Japan's space agency said on Saturday, as it conducts a mission aiming to shed light on the o..
Hong Kong opens high-speed rail link with mainland China
HONG KONG: Hong Kong on Saturday opened a new high-speed rail link to inland China that will vastly decrease travel times but also raises concerns about Beijing's creepin..
Vatican, China sign landmark accord on appointing bishops
VILNIUS: The Vatican on Saturday signed a landmark agreement giving it a long-desired say in the appointment of bishops in China, though critics labelled the deal a sello..
Cricket-loving India, Pakistan couples bowled over in UAE
DUBAI: While India and Pakistan's fierce cricket rivalry has been on display at the Asian Cup in the UAE, some families in the country have divided loyalties. The UAE ..
Advertise | Copyright