China's trade surplus with the United States hit a record monthly high in August despite the Trump administration's imposition of two rounds of new tariffs on Chinese goods and plans to levy additional taxes soon. The surplus increased from $28.09 billion in July to $31.05 billion last month. "In the short term, it is difficult for the trade gap to narrow because American buyers cannot easily find alternatives to Chinese products," said economist Liu Xuezhi of China's Bank of Communications. Pre...
Trump's tariffs are supposed to reduce China's trade surplus. It just hit a record high.
The Week - 9 Sep 2018 16:53
China's trade surplus with the United States hit a record monthly high in August despite the Trump administration's imposition of two rounds of new tariffs on Chinese goods and plans to levy additional taxes soon. The surplus increased from $28.09 billion in July to $31.05 billion last month. "In the short term, it is difficult for the trade gap to narrow because American buyers cannot easily find alternatives to Chinese products," said economist Liu Xuezhi of China's Bank of Communications. Pre...
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