China's Exports Fell In December, But Trade Surplus With US Is Growing
The Chinese government announced that exports were down more than 4 percent last month, but its 2018 trade surplus with the U.S. was $323 billion.
China just announced a pretty big trade surplus with the U.S., despite seeing a decline in exports for December.
The country's exports were down more than 4 percent last month, and several outlets report that it was China's worst month in two years.
The new numbers come just after the latest round of trade talks between American and Chinese officials appear to have wrapped up last week on a positive note.
The two countries have implemented tariffs on hundreds of billions of dollars of each other's goods in the past year, but they've agreed to a short-term trade truce.
On Monday, President Donald Trump echoed that optimistic attitude.
"We're doing very well with China. They're having a hard time with their economy because of the tariffs. We're doing very well with our economy where it records — our unemployment numbers just hit a record, another record," he said. "I think that we are going to be able to do a deal with China."
Economists say the latest data doesn't just highlight effects of the tariffs, but it also points to signs of economic stress.
After a lot of growth, experts say China's facing an economic slowdown, with 2018 projected to have its slowest growth on record since 1990.
Additional reporting from Newsy affiliate CNN.
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