China's trade surplus with the United States balloons to a record $34.1 billion

Oct 13, 2018, 08:38 IST | Agencies

"China-US trade friction has caused trouble and pounded our foreign trade development," customs spokesman Li Kuiwen said on Friday

China's trade surplus with the United States balloons to a record $34.1 billion
Donald Trump and Xi Jinping. Pic/AFP

China's trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, 1official data showed Friday, adding fuel to the fire of a worsening trade war.

Relations between the world's two largest economies have soured sharply this year, with US President Donald Trump vowing on Thursday to inflict economic pain on China if it does not blink. China's exports to the US rose to $46.7 billion while imports slumped to $12.6 billion, according to China's customs administration. The world's top two economies imposed new tariffs on a massive amount of each other's goods mid-September, with the US targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of US goods.

"China-US trade friction has caused trouble and pounded our foreign trade development," customs spokesman Li Kuiwen said on Friday. China's overall trade — what it buys and sells with all countries including the US — logged a $31.7 billion surplus, as exports rose faster than imports. Exports jumped 14.5 per cent for September on-year, beating forecasts from analysts polled by Bloomberg News, while imports rose 14.3 per cent on-year. Analysts forecast the trade war will start to hurt China in coming months.

No nuke tech exports for China
The Trump administration has said that it would sharply restrict exports of civilian nuclear technology to China that officials claimed was being diverted to power new generations of Chinese submarines, aircraft carriers and floating nuclear power plants. The move came a day after the Justice Department announced the arrest of a Chinese intelligence officer who was charged with stealing secret information from GE Aviation.

US has an eye on India's moves
India's decision to continue buying oil from Iran after November 4 and purchase the S-400 Triumf air defence system from Russia is "not helpful" and the US is reviewing it "very carefully", the State Department has said. It has given a November 4 deadline to its allies to bring down their import of Iranian oil to zero.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

DISCLAIMER: mid-day and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Pervert arrested for molesting a minor at Mumbai Central station's foot over bridge

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK