India raises trade deficit issue with China at WTO

China trade surplus with US widens unexpectedly

Beijing said China's surplus with the U.S. hit an all-time high of US$28.97 billion last month, while exports to the country hit a record US$42.62 billion.

The June figures may have received a boost from US and Chinese traders who rushed to fill orders for soybeans, ball bearings and other goods in both directions before threatened tariff hikes took effect.

"Looking ahead, export growth will cool in the coming months as United States tariffs start to bite alongside a broader softening in global demand", Julian Evans-Pritchard of Capital Economics said.

"Chinese exports held up well on the eve of US tariffs", Julian Evans-Pritchard of Capital Economics said in a report.

Instead, China could focus on domestic reforms and development, while accelerating opening-up and addressing other United States demands, which are also in China' own interests.

The administration's action on Tuesday comes after Washington imposed 25% tariffs on $34 billion worth of Chinese goods on July 6. Beijing responded by imposing similar duties on the same amount of USA imports.

This week, the Trump administration announced a possible second round of tariff hikes targeting a $200 billion list of thousands of Chinese products.

"China's surplus in goods trade was determined by its economic structure and the global division of labor, which should be treated objectively and rationally", Huang said, noting along with further opening up, China's foreign trade will see more balanced development".

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China reported Friday that its June imports rose 14.1 percent in dollar-denominated terms, falling far short of a 20.8 percent increase expected by analysts.

Huang noted China has made headway in pushing for more balanced trade, citing surplus having shrunk for eight quarters in a row and a much faster growth pace in imports.

On trade in goods, China fulfilled all of its tariff reduction commitments in 2010, with its average tariff level down to 9.8 percent from 15.3 percent in 2001.

Last year's imports from the United States totaled about $130 billion.

Beijing's tariff battle with President Donald Trump has rattled businesses that worry trade and investment will be disrupted.

China's global trade surplus in June narrowed by 10.9 percent to $41.6 percent.

Mr. Mnuchin, who has tried to avoid calling the trade tensions with China a "war", said talks with Beijing had "broken down" and suggested it was now up to China to come to the table with concessions. "Import growth is set to slow further as domestic headwinds from property controls and weaker investment spending continue to intensify".

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