TAIPEI CITY, Taiwan - October 19, 2018 - (Newswire.com)
Burton Mills economists say that, due to a rush of export orders prior to the implementation of US trade tariffs, China recorded a record high trade surplus of $34.13 billion last month in spite of escalating trade tensions between the two countries.
Last month, China’s trade surplus with the United States was greater than its overall trade surplus for September. China’s substantial trade surplus with the United States has fueled a vicious trade war between the world’s two largest economies.
Burton Mills economists say that in spite of worsening trade relations with the US, China’s economy has maintained a steady momentum so far this year.
During the period from January to September, China recorded a trade surplus with the United States of $225.79 billion. This was up from the $196.01 billion posted during the same period in 2017.
China’s exports also increased by 14.5 percent during the 9 month period and exceeded Burton Mills economists’ prediction of 8.9 percent for the period.
Burton Mills economists believe the run of better-than-expected growth can be attributed to an increase in orders before the tariffs came into effect and that trade data will likely reflect a slowdown in the coming months.
The most recent round of retaliatory tariffs was imposed by the US and China against each other’s exports last month.
Although China and the United States seem to be far from reaching a workable solution in their ongoing trade dispute, Burton Mills economists say the effect on overall industrial output for China may not be extensive.
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Original Source: Burton Mills - China US Trade Surplus Reaches Record High
