China’s May trade surplus with U.S. widens to $24.58 billion


China’s trade surplus with the United States widened to $24.58 billion in May, from $22.15 billion in April, customs data showed on Friday, as the world’s largest economies are locked in tense trade negotiations.

For January-May, China’s trade surplus with the United States was $104.85 billion.

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.

Just when it appeared a trade truce between the world’s two largest economies was on the cards, the White House late in May warned it would pursue tariffs on $50 billion worth of Chinese imports, as well as impose restrictions on Chinese investments in the United States and tighten export controls.

Source: Reuters

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