Jim Cramer Blog

China's trade surplus soared 67 percent in July from a year ago to its second-highest monthly level on record, according to data reported Friday, amid pressure by U.S. lawmakers to sanction Beijing over trade and currency disputes.

July's surplus totaled $24.4 billion, the Chinese customs agency reported. That beat every previous month except June's all-time high of $26.9 billion.
Analysts had expected the surplus to ease in July after exporters rushed to ship goods in earlier months to beat changes in tax policy meant to narrow China's yawning trade gap.
The surplus grew despite recalls and warnings targeting faulty or tainted Chinese goods ranging from toothpaste to tires to seafood in the United States and other countries.

Labels: CHINA