Business

China May trade surplus with US at US$31.78 billion

China's trade surplus with the United States stood at US$31.78 billion in May, Reuters calculations based on Chinese customs data showed on Monday, up from a US$28.11 billion surplus in April.

FILE PHOTO: U.S. and Chinese flags outside the Pentagon
FILE PHOTO: U.S. and Chinese flags are seen before a meeting between senior defence officials from both countries at the Pentagon in Arlington, Virginia, U.S., November 9, 2018. REUTERS/Yuri Gripas

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BEIJING: China's trade surplus with the United States stood at US$31.78 billion in May, Reuters calculations based on Chinese customs data showed on Monday, up from a US$28.11 billion surplus in April.

For the first five months of 2021, China's trade surplus with the United States stood at US$132.46 billion, compared with a US$100.68 billion surplus in January-April.

China has increased engagement with U.S. trade and economic chiefs since President Joe Biden took office in January. China's Vice Premier Liu He spoke with U.S. Treasury Secretary Janet Yellen last week, just days after talks with U.S. Trade chief Katherine Tai.

The Biden administration is conducting a review of U.S.-China trade policy, ahead of the expiry of their Phase 1 deal at the end of 2021 which called for China to increase purchases of U.S. agricultural goods, manufactured products.

(Reporting by Liangping Gao and Ryan Woo; Editing by Sam Holmes)

Source: Reuters