US Monthly Trade Deficit With China Drops To Five-Year Low

WASHINGTON (UrduPoint News / Sputnik - 10th May, 2019) The monthly US trade deficit with China fell to $20.7 billion marking a five year low, Commerce Department data revealed on Thursday.

Data from the Commerce Department's Census Bureau shows that the US trade deficit with China fell to $20.74 billion in March, the lowest it has been since March 2014 when the deficit hit $20.48 billion.

On Wednesday, a notice published in the Federal Register revealed that the United States is poised to hike import tariffs on Friday on $200 billion worth of Chinese goods. China has threatened to retaliate with reciprocal measures.

The United States and China have been embroiled in a trade dispute since last June, when Trump announced the imposition of 25 percent tariffs on Chinese goods worth $50 billion in a bid to fix the US-Chinese trade deficit. Since then, the Washington and Beijing have exchanged several rounds of trade tariffs.