China’s Trade Surplus With US Widens

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China’s trade surplus with the United States rose to $24.58 billion in May, from $22.15 billion in April, according to Chinese customs data published Friday.

China’s export growth in May was 12.6 percent, slightly down from 12.9 percent in April, but well above the 10 percent that economists polled by the Reuters news agency had predicted.

Chinese imports also increased year over year in May, rising 26 percent.

For the first five months of the year, China’s trade surplus with U.S. was $104.85 billion.

Both countries have threatened to hike tariffs on goods worth up to $150 billion each, as President Donald Trump has demanded Beijing open its economy further and address the U.S. large trade deficit with China.

Earlier this week, China warned the U.S. that any trade and business agreements between the two countries “will not take effect” if Trump’s threatened tariff hike and other measures on Chinese goods are implemented.

The warning came after U.S. Commerce Secretary Wilbur Ross and Chinese Deputy Prime Minister Liu He ended two days of talks in Beijing aimed at settling the simmering trade dispute, in which Beijing pledged to narrow its trade surplus.

The White House renewed a threat last week to raise duties on $50 billion of Chinese technology-related goods over that dispute.

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