China's trade surplus with US grows in May | AP business

China’s trade surplus with US jumps global imports surge

China’s trade surplus with US jumps global imports surge

The U.S. and China have threatened tit-for-tat tariffs on goods worth up to $150 billion each, as President Donald Trump has pushed Beijing to open its economy further and address the United States' large trade deficit with China.

China posted a trade surplus of US$24.92 billion (RM99 billion) for the month.

"China is willing to increase imports from the United States on the assumption that two parties meet each other half way", said Gao. President Donald Trump has mounted a personal crusade to bring the U.S. deficit down with the world's second-largest economy.

China maintained solid export growth of 12.6 percent in May, slightly slower than in April, but still providing good news for Beijing's policymakers as they deal with tough trade negotiations with Washington.

Helping to explain the decline in the headline surplus, China's NBS said the value of imports grew substantially faster than exports over the year. China quickly responded with its own retaliatory tariffs on us goods imported by China from the U.S. Aside from the short-term impact of the lunar calendar-based timing of China's Spring Festival holiday, which effectively shuts down China's ports for a week in either January or February each year, April 2018 saw perhaps the most significant simultaneous disruption to trade between the two nations that has occurred outside of periods of recession.


Customs data showed the surplus grew 11.7 percent on-year to $24.6 billion in May, with exports to the United States rising by about 12 percent and imports up 11 percent.

While the deal to allow ZTE to restart business removes one irritant in the US-China relationship, Trump's main concern is cutting his nation's persistent trade deficit. Our second chart shows the combined value of that trade in terms of USA dollars for each month over the past 10 years, along with its trailing-twelve month average.

The latest reading on trade comes amid US pressure on Beijing over its trade surplus and technology policy.

In response to its unilateral measures, other trading partners of the United States are also joining the fight.

China's bloated trade surplus with the rest of the world shrank last month, but not with the United States. During the talks, China promised to expand imports of American farm produce and energy to cut the surplus.

Recommended News

  • IHOP flipping brand to IHOB

    IHOP flipping brand to IHOB

    But as IHOP/IHOb continued tweeting about its unexplained name change, things "kept getting weirder", as one Arabic speaker said. When a tweeter named Patrick begged for answers, IHOP responded: "batience, Batrick, batience!"
    Supreme Court rejects NI abortion law appeal

    Supreme Court rejects NI abortion law appeal

    It is only permitted if a woman's life is at risk, or there is a permanent or serious risk to her mental or physical health. Northern Ireland Human Rights Commission had challenged the law in court.
    Trump delivers warning on trade as he leaves G-7 summit

    Trump delivers warning on trade as he leaves G-7 summit

    Trump himself insisted relationships with allies were a "ten" just before he left the summit. He suggested Mr Trudeau was "very dishonest and weak".
  • 'Strong progress' in calming DRC Ebola outbreak

    'Strong progress' in calming DRC Ebola outbreak

    He said that the first phase - protecting urban centres and towns - "has gone well, and we can be cautiously optimistic". Four of the five approved drugs are now in the country.
    Trump backs out of fragile joint communique after leaving Canada

    Trump backs out of fragile joint communique after leaving Canada

    Trump sensationally withdrew his endorsement of their joint statement following the major global gathering. While many said that the picture sums up Trump's time at G-7, several others called it a "power dynamic".

    Live coverage of big reveals including Federation Internationale de Football Association 19

    Kicking off E3 2018 is Electronic Arts with more information on its big games for 2018, including Battlefield V and Anthem . Continuing to invest in its EA Originals indie publishing initiative, EA revealed a striking-looking new indie game.
  • Trump pulls out of joint G7 statement, attacks Trudeau as 'dishonest & weak'

    Trump pulls out of joint G7 statement, attacks Trudeau as 'dishonest & weak'

    But despite the rows over trade and Russia , Mr Trump rated his relationship with other G7 leaders as 10 out of 10. The EU then announced tariffs on United States goods ranging from Harley-Davidson motorcycles to bourbon.
    Dead or Alive 6 Coming in Early 2019

    Dead or Alive 6 Coming in Early 2019

    It's not a coincidence, I tell ya! Dead or Alive 6 is expected to release in early 2019 for PC, Xbox One and PlayStation 4 . The game's official website , which also launched on Friday, states that more information will be revealed on June 11.
    Avalanche Studios Announces Open-World Action Game Generation Zero

    Avalanche Studios Announces Open-World Action Game Generation Zero

    That means you can come back minutes, hours or even weeks later and the enemy will still bear its battle scars. Avalanche Studios , the studio behind Just Cause and Mad Max , has announced their new, self-published IP.
  • New NASA Discoveries Advance Case for Possible Life on Mars

    New NASA Discoveries Advance Case for Possible Life on Mars

    This indicates that back then, favorable conditions on Mars might have allowed life to emerge and populate the planet. In 2013, the rover found that liquid water and the chemical components behind life had once existed on Mars .
    What Is The Correct Tracklist for 'Kids See Ghosts'?

    What Is The Correct Tracklist for 'Kids See Ghosts'?

    Kid Cudi returned the favor and appeared on West's album 808's & Heartbreak as well as his recent track " Ghost Town" from ye. All three pieces of the " Kids See Ghosts " collection are available for preorder on Kanye West's web store right now.
    BT chief steps down as board loses confidence

    BT chief steps down as board loses confidence

    When you devise a strategy which has the "full support" of the board then you expect that you will be around to execute it. However, it's been a different story over the last two years, ' he said.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.