What trade war? China racks up a record $34.13 billion surplus on the USA

CNBC/Huileng Tan/10-11-2018

“China recorded a record trade surplus of $34.13 billion with the U.S. in September amid intense trade tensions between the world’s two largest economies.”

USAGOLD note:  The Trump administration is not likely to be thrilled with this report. As noted below, the larger tariff scheme just went into effect late September with the remainder scheduled to go into effect January, 2019, so these are pre-tariff numbers.  Unless China finds some way to absorb the tariffs without raising its prices, the surplus is likely to shrink.

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