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  • China's trade surplus with the United States narrowed last year as the world's two biggest economies exchanged punitive tariffs in a bruising trade war, official data showed Tuesday. The figures were released just a day before the US and China are expected to sign a "phase one" agreement that marks a de-escalation in their two-year conflict. The perennial US trade deficit with China has been a major source of anger for President Donald Trump, who has slapped tariffs on hundreds of billions of dollars worth of Chinese goods, triggering tit-for-tat responses from Beijing. China's surplus came in at around $295.8 billion in 2019, down 8.5 percent from the previous year's record $323.3 billion, according to customs data. In December, its surplus with the US was around $23.2 billion, down from $24.6 billion the month before. As part of the interim trade deal, Beijing will buy an extra $200 billion of US products over a two-year period, according to Washington officials. China has yet to publicly confirm the figures. bys/lth/dan
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  • China trade surplus with US dropped 8.5% to $296 bn in 2019
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