China’s trade surplus with the United States widened to a record $31 billion in August as exports surged despite American tariff hikes, potentially adding fuel to President Donald Trump’s battle with Beijing over industrial policy.
Exports to the United States rose 13.4 per cent to $44.4 billion, ticking up from July’s 13.3 per cent growth, according to customs data. Imports of US goods rose 11.1 per cent to $13.3 billion, decelerating from the previous month’s 11.8 per cent.
That could help reignite US demands that Beijing narrow its trade gap, which has temporarily been overshadowed by their clash over complaints China steals or pressures foreign companies to hand over technology.
The two sides have imposed 25 per cent tariffs on $50 billion of each other’s goods. The Trump administration is deciding whether to extend penalties to another $200 billion list of Chinese imports. Beijing says it will retaliate. With no settlement in sight, the spiraling conflict between the two biggest economies has fed fears it will chill global trade and economic growth.
The Commerce Ministry expressed confidence Thursday that China can maintain “steady and healthy” economic growth despite the trade pressure.