China's trade surplus with US swells in June

  • Friday 13, July 2018 in 11:32 AM
Sharjah 24 – AFP: China's surplus with the United States hit a record last month, data showed Friday, adding to brewing tensions between the economic superpowers as they stand on the brink of an all-out trade war that Beijing warned would have a "negative impact" globally.
The figures come after the two sides exchanged tit for tat tariffs on billions of dollars worth of goods and Donald Trump threatened to up the ante with measures on a colossal $200 billion of Chinese imports.
 
Beijing said China's surplus with the US hit an all-time high $28.97 billion last month, while exports to the country hit a record $42.62 billion.
 
Over the first six months of the year the surplus climbed to $133.8 billion as total two-way trade continued to expand despite the face-off.
 
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 in a statement from its commerce ministry Thursday, China blamed those problems on the US, saying the imbalance was "overestimated" and caused by America's own "domestic structural problems".