Is Trump right? China's trade surplus with the United States arrives in June at the highest level since 1999

China's monthly trade surplus with the United States reached a record high in June, highlighting the imbalance under -Jacent to a Trade War

The trade surplus with the United States rose to 28.970 billion US dollars, the highest monthly figure of data dating back to 1999. Exports have climbed to 42.620 million US dollars, Very high, said the customs administration Friday.

While several factors will have influenced the data, including the hurry of some manufacturing companies to sell products before the coming into effect of the tariffs imposed this month, there is little indication that the US deficit with China will improve soon. While tax cuts stimulate US expansion and a slowdown in the Chinese economy could slow domestic demand, the annual gap of nearly $ 340 billion will continue to provide the framework conflict.

"The record bilateral surplus shows that the US economy is strong and that China is weakening," said Wang Jian, Shanghai-based economist at Shenwan Hongyuan Group Co.

"Chinese domestic investment declines due to financial pressures, while this consumption also shows no signs of strength."

China and the United States they imposed tariffs of 25% to 34 billion US dollars of imports from the other country on July 6 and Beijing reacted to the proposal to impose duties on 200,000 million dollars more in Chinese products.

"The effects of the trade war on Chinese exports are likely to increase after July," said Fielding Chen, Bloomberg economist for China. "But the impact of current US tariffs on growth should be limited."

The decline of the yuan in June was the worst monthly since 1994, down more than 3 percent against the dollar. While this would help exporters in the long run, the current weakening of the yuan is a sign of growing concern as the trade war comes at a time when the economy is slowing down. President Xi Jinping may need to choose between relaxing his campaign to control the level of debt or allow growth to be below the target of 6.5%.

Total world exports increased by 11.3% in June in dollar terms, while imports rose 14.1%, below forecasts by 21.3%, which is the largest gain. translates into a trade surplus of 41.610 million US dollars. The trade surplus with the European Union has risen to the highest level since 2011, while the deficit with Japan has been reduced.

Trade data precede the second quarter gross domestic product report, which would provide a more comprehensive picture of the world's second-largest economy performance in the first half of this year. Its release is scheduled for Monday, and economists predict a slight deceleration in the quarterly growth rate: from 6.8% to 6.7%