China May trade surplus with U.S. at $31.78 billion

FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai, China, as the coronavirus disease (COVID-19) outbreak continues, October 19, 2020. REUTERS/Aly Song

BEIJING (Reuters) – China’s trade surplus with the United States stood at $31.78 billion in May, Reuters calculations based on Chinese customs data showed on Monday, up from a $28.11 billion surplus in April.

For the first five months of 2021, China’s trade surplus with the United States stood at $132.46 billion, compared with a $100.68 billion surplus in January-April.

China has increased engagement with U.S. trade and economic chiefs since President Joe Biden took office in January. China’s Vice Premier Liu He spoke with U.S. Treasury Secretary Janet Yellen last week, just days after talks with U.S. Trade chief Katherine Tai.

The Biden administration is conducting a review of U.S.-China trade policy, ahead of the expiry of their Phase 1 deal at the end of 2021 which called for China to increase purchases of U.S. agricultural goods, manufactured products.

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