Why China’s record trade surplus with US could be a headache for Beijing
Announcement of US$275 billion surplus comes as Washington talks of taking tougher line on trade and economic dialogue programme is suspended
China’s huge trade surplus with the United States, a priority for President Donald Trump’s administration, hit a record high last year, adding to worries of a worsening rift between the world’s two largest economies.
China’s overall imports for the month missed market expectations, rising just 4.5 per cent year on year, while exports did better than expected, adding 10.9 per cent from a year earlier.
Huang Songping, a spokesman for the customs agency, said China would find it hard to maintain double-digit foreign trade growth this year.
The announcement came at a bad time, as Washington ramps up talk of taking tough economic action against Beijing including punitive tariffs, sanctions and even a trade war, while an important bilateral economic dialogue has hit a major roadblock.