Caixin: China Trade Surplus With US Grows Despite Tariffs

Despite tariffs imposed by the Trump administration, China’s trade surplus with the United States continue to swell. “Exports to the U.S. grew 13.2% in August from a year earlier to $44.39 billion, with the growth rate accelerating from 11.2% in July,” reports Wu Gang for Caixin, adding that China’s growth worldwide slowed for the month. “The Trump administration began levying a 25% tariff on $34 billion worth of Chinese goods in early July, and slapped tariffs on an additional $16 billion of Chinese imports at the end of August, citing the widening trade deficit and China’s ‘stealing’ of U.S. intellectual property.” The US president has threatened to impose more tariffs if China does not take steps to alleviate the trade imbalance, and the increase may be due to companies increasing orders just before the United States issued tariffs and China retaliated. – YaleGlobal