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China's Trade Gap With U.S. Hits Record $323 Billion In December

WorldNews Monday, 14 January 2019
China's Trade Gap With U.S. Hits Record $323 Billion In DecemberA mixed economic report for China in December was reported Monday as the country surged to a record $323.3 billion trade surplus with the US, but exports contracted in December, CBS News reported, as the delayed impact of U.S. President Donald Trump’s tariff hikes started to hurt demand. Exports to the U.S. in 2018 rose 11.3 percent to $478.4 billion despite Trump’s punitive duties in a fight over Chinese technology ambitions, customs data released Monday showed. In addition, the report said, imports of American goods were higher by only 0.7 percent year over year. This figure reflects retaliatory tariffs by Beijing and encouragement to importers to buy more from non-U.S. suppliers. Chinese...
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News video: China's gloomy trade could spill to global economy

▶ China's gloomy trade could spill to global economy 01:09

China's exports unexpectedly fell the most in two years in December, while imports also contracted, pointing to further weakness in the world's second-largest economy in 2019 and deteriorating global demand.Michelle Hennessy reports.

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