Trade tension likely to intensify as China’s trade surplus with the US balloons
The data, which showed that the China’s surplus shrank with the rest of the world, is likely to reinforce the US’s determination to impose new tariffs on Chinese imports
Beijing — China’s trade surplus with the US jumped in May, official data showed Friday, worsening the imbalance at the centre of the tension between the economic titans. By contrast, China’s trade surplus with the rest of the world shrank. The figures may reinforce Washington’s determination to move forward with new tariffs on tens of billions of dollars of Chinese imports as early as next week. Beijing has warned that those tariffs would void agreements made between the two powers over months of trade negotiations between the world’s two largest economies. The record imbalances are at the heart of US President Donald Trump’s anger at what he describes as Beijing’s unfair trade practices that are hurting American companies and destroying jobs. Trade is also expected to dominate upcoming Group of Seven (G-7) talks — which do not include China — with Canada and leading European nations warning Trump they will not back down over tariffs. For the first five months of the year, China’s s...
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