China’s trade surplus with US hits record level as businesses scramble to beat tariff deadline
Saturday, 8 December 2018 China’s trade surplus with the US rose to a new high of US$35.5 billion last month as businesses raced to prepare for a threatened increase in tariffs over the new year. China’s exports to the US rose by 9.7 per cent year-on-year to US$46.2 billion in November, while imports dropped 25 per cent to US$10.6 billion, according to data published by the General Administration of Customs in China on Saturday. But China’s overall trade last month was worse than expected: both...
U.S.-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a “hard deadline." Zachary Goelman reports.
According to Reuters, people familiar with the matter told Reuters that Amazon plans to close its domestic marketplace business in China by mid-July, focusing efforts on its more lucrative businesses..