US Trade Deficit with China Still on the Rise
US goods exports to China grew two percent year-on-year to $13 billion, their highest level since December 2013, while imports jumped to $48.2 billion, a 10 percent increase year-on-year.
In the first 10 months of 2017, the cumulative deficit was about $309 billion, up seven percent over the same period in 2016. Cumulative imports were up 8.4 percent year-on-year, while exports grew 13 percent. After a protracted downward trend from late 2015 to mid-2016, US exports to China showed a steady recovery since August 2016.
Imports from China have similarly trended upward, and the deficit in 2017 is on track to exceed its 2016 level.
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