China trade surplus with US dropped 8.5 per cent to USD 296 bn in 2019
PTI, Jan 14, 2020, 3:42 PM IST
Beijing: 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 USD 295.8 billion in 2019, down 8.5 per cent from the previous year’s record USD 323.3 billion, according to customs data.
In December, its surplus with the US was around USD 23.2 billion, down from USD 24.6 billion the month before.
As part of the interim trade deal, Beijing will buy an extra USD 200 billion of US products over a two-year period, according to Washington officials. China has yet to publicly confirm the figures.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
New software for fast-tracking project approvals: Karnataka Minister Patil
In-flight passengers can access WiFi services only when allowed, say new rules
SEBI mulls separation of non-regulated activities; ‘cross-default’ definition for debenture trustees
Sensex plunges 942 points to settle at nearly 3-month low; RIL, HDFC Bank biggest drag
Equity investors become poorer by Rs 7.37 lakh crore during morning trade as markets tumble
MUST WATCH
Latest Additions
FIR against Sanjay Raut’s brother for remarks against Shiv Sena’s woman leader
Kodagu murder case accused escapes from police in Hyderabad
New software for fast-tracking project approvals: Karnataka Minister Patil
Karnataka Maritime Board announces plans for Mangaluru Water Metro Project
In-flight passengers can access WiFi services only when allowed, say new rules
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.