China's Trade Surplus With US Grew, While Global Gap Shrank


The data just released on Wednesday by the U.S. Census Bureau then contains the first evidence of how these tariffs are affecting the flow of trade of goods and services between the U.S. and China.

As a result, China posted a bilateral trade surplus of about 24.5 billion dollars.

The growth rate of the value of USA exports to China dropped from 17.9% to -4.6%, while the growth rate of Chinese exports to the US declined from 11.0% to 2.0%. It hopes the United States will make joint efforts with China to maintain the stable and healthy development of economic and trade ties between both countries, said Gao.

That sharp deceleration is also evident in the combined value of goods and services exported between the US and China, where a positive trend for growth has suddenly started to look like the potential beginning of an economic top. "But progress in U.S".

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That was still above the 10% increase that had been expected by economists, providing another indicator of the improvement seen in the global economy over the past year.

U.S. goods exports to China past year were US$130.4 billion, according to the Department.

Earlier this week, China warned the USA that any trade and business agreements between the two countries "will not take effect" if Trump's threatened tariff hike and other measures on Chinese goods are implemented. Our second chart shows the combined value of that trade in terms of US dollars for each month over the past 10 years, along with its trailing-twelve month average.

In response to its unilateral measures, other trading partners of the United States are also joining the fight.

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Data from China show that the trade surplus with the United States grew further in May.

The warning came after U.S. Commerce Secretary Wilbur Ross and Chinese Deputy Prime Minister Liu He ended two days of talks in Beijing aimed at settling the simmering trade dispute, in which Beijing pledged to narrow its trade surplus.

For January-May, the surplus stood at $104.85 billion, compared with about $92.9 billion in the same period previous year.

A final list of Chinese imports subject to 25 percent tariffs will be announced on June 15, with more detailed investment restrictions to be unveiled by the end of the month.

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Beijing has cut import duties on automobiles and some consumer goods and to ease curbs on foreign ownership in its auto industry. To do so, it would have to buy the equivalent of more than 600 Boeing airliners annually.