China's trade surplus with US soars to record high

Economy 10/12/2018, 6:31 AM
China's trade surplus with US soars to record high

China's trade surplus with the United States reached a record $34.1 billion in September, according to a Chinese customs administration release. The data report shows exports from China to the US climbed to $46.7 billion while imports dropped to $12.6 billion.

The trade balance between the two largest world economies has been one of the focal points in the ongoing trade war. US President Donald Trump criticized Beijing's trade surplus with the United States and has demanded that China reduce it.

The two countries imposed tariffs on each other's goods in September, with the US putting a 10% duty on $200 billion worth of Chinese imports, while Beijing retaliated by targeting American products worth $60 billion with a 5% to 10% tariff.

Breaking the News / MD

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