China’s Trade Surplus With World Narrows
- The value of exports from China increased 11.3 percent from June 2017 to June 2018 to $216.7 billion while imports expanded 14.1 percent to hit $175.1 billion. The Associated Press noted, “The June figures may have received a boost from U.S. and Chinese traders who rushed to fill orders for soybeans, ball bearings and other goods in both directions before threatened tariff hikes took effect.” Exports to the United States rose 13.6 percent to $42.6 billion while imports from the United States hit $13.6 billion. The overall trade deficit between the United States and China expanded 14.2 percent, but China’s overall trade surplus with the world narrowed 10.9 percent.
- According to the International Stainless Steel Forum, global stainless steel production increased 9.5 percent from the first quarter of 2017 to the first quarter of 2018 to 12.77 million tons. Production in China increased 6.5 percent while European output rose 1.7 percent. Production in the United States fell from 721,000 in the first quarter of 2017 to 718,000 tons in the first quarter of 2018.