China's Sept. trade surplus with US widens to record $34.13B

By China TariffsFOXBusiness

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China's trade surplus with the United States surged to a record high of $34.13 billion in September, compared with $31.05 billion in August, according to Reuters.

In fact, the September surplus with the U.S. was larger than China's overall trade surplus of $31.69 billion for the month.

China's trade surplus with the United States was $225.79 billion from January-September.

It was about $196.01 billion in the same period last year.

An imbalance of trade is at the center of an increasing bitter dispute between the world's two biggest economies.

The United States and China imposed new tit-for-tat tariffs against each other's goods in late September, the latest escalation in a heated trade war between them.

The administration placed tariffs of 10 percent on the $200 billion of Chinese products, with the tariffs to go up to 25 percent by the end of 2018. Beijing's new levies will be 5-10 percent.

The two countries already exchanged tariffs on $50 billion worth of each other's goods earlier this year.

Economists warn that a protracted dispute will eventually stunt growth not just in the U.S. and China but across the broader global economy.