China's Trade Surplus with the United States Is Growing Faster Under Trump
China's trade surplus with the United States slipped from a record high last month, according to official data published Wednesday, but still rose past $300 billion over the first 10 months of the year just as President Donald Trump arrives for a state visit in Beijing.
China's customs office said total exports from the word's second largest economy grew an annual 6.9% last month, slowing from the 8.1% pace recorded in September. Import growth, however, was impressively strong at 17.2%, although again slower than the 18.1% pace notched in the previous month.
The figures also reveal a 37.8% increase in China exports to the United States which, when set against an 11.1% rise in imports translates to a trade surplus of $26.6 billion. That's down from last month's record high of $28 billion but still puts the year-to-date tally at just over $300 billion - more than $12 billion head of last year's pace, according to U.S. Census Bureau data.
Watch More with TheStreet:
- Here's How to Play Amazon's Destruction of Brick-and-Mortar Retail
- Video: Why 'If You Just Shrink It and Pink It' Marketing for Women Should End
- Here Is How Millennials Can Get Rich From Exchange Traded Funds
- 5 Financial Stocks That Have Soared Since the Presidential Election
Don't miss the best videos of the week. Put Wall Street on Rewind and sign up for our weekly newsletter.
