China’s trade surplus with US shrinks, in first official snapshot since trade war began
The dip is unlikely to ease tension between Beijing and the White House, with the US firing off a fresh round in the tariff tit-for-tat
Beijing — China’s trade surplus with the US eased in July, when President Donald Trump imposed stiff tariffs on billions of dollars worth of Chinese goods in a showdown between the world’s two biggest economies. The figures on Wednesday come as the two exchange threats of further measures, which have fuelled the fear of a trade war many observers warn could hammer global business. Beijing reported a $28.1bn surplus for July, down from the record $28.9bn seen in June. China’s gaping trade surplus with the US has been a constant bone of contention, with Trump accusing the country of unfair practices, stealing American jobs and stealing its technological know-how. China’s global trade surplus fell even more, from $41.5bn in June to $28bn in July as imports and exports soared. The dip in China’s US surplus is unlikely to ease tensions with the Trump. The White House on July 6 imposed 25% tariffs on $34bn of Chinese products entering the US, triggering an instant tit-for-tat response fro...
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