August 8, 2018 / 3:24 AM / a year ago

China's July trade surplus with U.S. narrows only slightly to $28.09 bln

BEIJING, Aug 8 (Reuters) - China’s trade surplus with the United States narrowed to $28.09 billion in July, though it was only slightly lower than June’s record $28.93 billion, customs data showed on Wednesday.

For January-July, China’s trade surplus with the United States was $161.63 billion, compared with about $142.75 billion in the same period last year.

China’s favourable balance of trade position with the United States has long been a sore point in the trade relationship and is at the centre of an increasing bitter dispute between the world’s two biggest economies.

Beijing and Washington have slapped each other with tit-for-tat tariffs and threatened more duties on each other’s goods, with neither side showing any sign of turning down the heated rhetoric or a willingness to negotiate.

Last month, the United States imposed tariffs on $34 billion of Chinese imports. Beijing promptly responded by levying taxes on the same value of U.S. products, leading U.S. President Donald Trump to threaten tariffs on $500 billion of Chinese goods, or roughly the total amount of U.S. imports from China last year. (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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