China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace. The U.S. container port peak season is traditionally driven by orders for Chinese-made clothing, electronics and toys for the back-to-school season running from June to September, and then the winter holiday season.
The volume of loaded shipping containers from China to all U.S. ports was up 6.3 percent in June from a year earlier after falling 6.9 percent in May and 3.9 percent in April, said Gene Seroka, executive director of the Port of Los Angeles, the busiest U.S. container port and No. 1 hub for ocean trade with China.
The data came after the administration of U.S. President Donald Trump raised the stakes in its trade row with China, saying it would slap 10 percent tariffs on an extra $200 billion worth of Chinese imports, including numerous consumer items.
China’s trade surplus with the United States, which is at the center of the tariff tussle, widened to a record monthly high of $28.97 billion, up from $24.58 billion in May, according to Reuters calculations based on official data going back to 2008.
China’s June exports rose 11.3 percent from a year earlier, China General Administration of Customs reported, beating forecasts for a 10 percent increase according to the latest Reuters poll of 39 analysts.