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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