China says both its imports and exports with the US rose in the first half of the year

China on Friday reported that both its imports and exports with the U.S. rose in the first half of 2018.

Exports to the world’s largest economy rose 5.7 percent against the prior year-ago period in yuan terms, China’s customs office said. Imports from the U.S., meanwhile, correspondingly rose 4 percent.

More information on the trade between China and the U.S. was expected later in the day.

The politically-sensitive data came came amid escalating trade tensions between U.S. and China.

President Donald Trump has consistently deemed trade with China unfair to America and has demanded that Beijing address the issue.

But, China’s trade surplus against the U.S. has grown even though the Asian country’s total surplus has narrowed over the last two years.

Earlier this week, Trump’s administration released its list of $200 billion worth of Chinese goods that it said it aims to subject to 10 percent tariffs following a review process. China threatened retaliatory action and pledged that it would lodge a complaint with the World Trade Organization.

Last week, U.S. tariffs on $34 billion in Chinese products went into effect. China responded by slapping 25 percent duties on the same amount in U.S. goods.

China ran a $375 billion goods trade surplus with the United States in 2017.

— CNBC’s Ming Cheang and Reuters contributed to this story.

This is a breaking news story. Check back for updates.

Free America Network Articles

Leave a Comment