China’s trade surplus with the United States narrowed to 14.72 billion dollars in February, from 27.3 billion dollars in January, customs data showed on Friday.
For January-February combined, China’s trade surplus with the U.S. stood at 42.1 billion dollars.
China’s large trade surplus with the United States has long been a sore point with Washington, and is at the center of a bitter dispute between the two countries.
In 2018, the two governments imposed tit-for-tariffs on goods worth hundreds of billions of dollars.
While seasonal factors may have been at play, the shockingly weak readings from the world’s largest trading nation added to worries about a global slowdown, a day after the European Central Bank slashed growth forecasts for the region.
Asian stock markets and U.S. futures extended early losses after the data. Chinese stocks sank over 3 per cent.
Global investors and China’s major trading partners are closely watching Beijing’s policy…
Source: News Agency of Nigeria
