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ina's trade surplus with the US is widening. The latest trade start showing a record breaking month for Beijing and could indicate US tariffs aren't biting much yet. China's politically sensitive surplus with Washington was just at the $34 billion for September, overtaking a record $31 billion the month before.
The figures released by China's customs agency Friday will be the last before the US midterm elections on November, 6th, and could exasperate the already heated dispute between China and the US. The world's two biggest economies slapped tit for tat tariffs on each other's goods in September. There's no set date for the next round of punishing duties.
The US President Trump has made repeated threats to impose them on virtually all Chinese goods.>> You Promised more tariffs on China in retaliation,>> Sure, absolutely,>> Are you gonna go forward with that?>> 100%.>> China's exports have been surprisingly resilient to the tariffs, but analysts told Reuters those robust numbers are unlikely to last.
Pointing to the fact companies might have ramped up shipments before broader US tariffs went into effect. China's economy has also been showing signs of slowing. Growth in its factory sectors stalled in September for the first time in 15 months, and the International Monetary Fund slashed their country's growth forecast for 2019 from 6.4 to 6.2%.