China Records Highest Ever Trade Surplus with the US Despite Trump’s Efforts

According to data provided by Beijing on Monday, China recorded a record-breaking trade surplus with the United States in 2018. The data reveals that China achieved a trade surplus of $323.3 billion, which is the largest trade surplus in more than a decade. This marks a 17.2% increase from 2017 figures, which stood at $287.5 billion. The data also unveiled a 3.5% drop in total exports from China to the U.S. in 2018, which stood at $40.3 billion. Amongst other things, the Trump Administration-imposed tariffs on various Chinese goods are suspected of being responsible for the drop. Customs data revealed that exports from China rose by 11.3% in 2018, with $478.4 billion. Conversely, imports from the United States to China only saw a 0.7% increase. In a way, this seems to reflect the retaliatory efforts from Beijing over the tariffs. Citizens were encouraged to purchase more locally-manufactured products, while importers…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE