Despite Trump efforts, US trade deficit with China hits record: Reuters

Despite Trump efforts, US trade deficit with China hits record: Reuters
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The U.S. trade deficit with China hit a record high in June, according to a Reuters analysis, despite President TrumpDonald TrumpFacebook temporarily bans ads for weapons accessories following Capitol riots Sasse, in fiery op-ed, says QAnon is destroying GOP Section 230 worked after the insurrection, but not before: How to regulate social media MORE's efforts to alter the trade relationship between the world's two largest economies. 

Chinese data released Friday showed that the U.S. trade deficit with China hit $28.97 billion in June, an increase of $4.39 billion from May, according to Reuters.

In the first half of the year, Chinese exports to the U.S. increased 13.6 percent as compared to the same period in 2017, while imports from the U.S. only rose 11.8 percent.


The data comes as President Trump has ratcheted up a trade war with China and other close American trade partners, including Canada, Mexico and the EU.

Trump imposed $34 billion of tariffs on China, and another round of $16 billion is around the corner. He is also threatening another $200 billion in tariffs if China retaliates.

Thus far, China has imposed retaliatory tariffs on $34 billion worth of U.S. imports, targeting politically sensitive goods such as soybeans.

But comments from China’s commerce ministry indicated that June's figures are a blip, a result of Chinese companies pushing to get products out the door before the tariffs went into effect, according to Reuters.