China’s trade surplus with US rises to US$132.46b from January to May

China’s trade surplus with the United States stood at US$31.78 billion in May, Reuters calculations based on Chinese customs data showed on Monday, up from a US$28.11 billion surplus in April, Reuters reports.

For the first five months of 2021, China’s trade surplus with the United States stood at US$132.46 billion, compared with a US$100.68 billion surplus in January-April.

China has increased engagement with U.S. trade and economic chiefs since President Joe Biden took office in January.

Vice Premier Liu He spoke with U.S. Treasury Secretary Janet Yellen last week, just days after talks with U.S. Trade chief Katherine Tai.

The Biden administration is conducting a review of U.S.-China trade policy, ahead of the expiry of their Phase 1 deal at the end of 2021 which called for China to increase purchases of U.S. agricultural goods, manufactured products.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.