China’s trade surplus with U.S.rises to 20-month high
July 17, 2017 Category Foreign trade, Weekly
China’s trade surplus with the United States has risen to an 20-month high ahead of talks in Washington this week. The monthly surplus reached USD25.4 billion in June, according to Chinese customs data. U.S. President Donald Trump heavily criticized the U.S. trade imbalance with China during his election campaign and accused Beijing of a series of unfair trading practices. The issue will be one of the main topics during the negotiations, along with U.S. attempts to secure more access to Chinese markets. Merchandise shipments to the United States rose 19.7% to USD37.9 billion last month. China’s total exports rose 11.3% to USD196.6 billion. Trump has toned down his rhetoric on China’s trade practices after meeting President Xi Jinping at their summit meeting in Florida in April, and China announced a series of deals in May to open up its markets to U.S. goods and services. However, there are still signs of tension in the two countries’ trading relationship.
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