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BFF-21
CHINA-US-TRADE
China trade surplus with US dropped 8.5% to $296 bn in 2019
BEIJING, Jan 14, 2020 (BSS/AFP) – China’s trade surplus with the United
States narrowed last year as the world’s two biggest economies exchanged
punitive tariffs in a bruising trade war, official data showed Tuesday.
The figures were released just a day before the US and China are expected
to sign a “phase one” agreement that marks a de-escalation in their two-year
conflict.
The perennial US trade deficit with China has been a major source of anger
for President Donald Trump, who has slapped tariffs on hundreds of billions
of dollars worth of Chinese goods, triggering tit-for-tat responses from
Beijing.
China’s surplus came in at around $295.8 billion in 2019, down 8.5 percent
from the previous year’s record $323.3 billion, according to customs data.
In December, its surplus with the US was around $23.2 billion, down from
$24.6 billion the month before.
As part of the interim trade deal, Beijing will buy an extra $200 billion
of US products over a two-year period, according to Washington officials.
China has yet to publicly confirm the figures.
BSS/AFP/FI/ 1038 hrs