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China's trade surplus with U.S. ballooned in June

Brightly colored shipping containers and cranes at a port
A port in Wilmington, North Carolina. Photo: John Greim/LightRocket via Getty Images

China's trade surplus with the U.S. reached a record monthly high in June as Chinese companies rushed to sell their goods before President Trump's tariffs went into effect on July 5th, reports CNBC.

By the numbers: The surplus in June was $28.97 billion, up from $24.58 billion in May. For the first half of 2018, China's surplus with the U.S. was $133.76 billion, up from $117.51 billion in the first half of 2017. But don't expect this to continue. The surplus for the second half of 2018 will likely be significantly lower than that of the same period last year as Trump's trade war slows down the flow of Chinese exports into the U.S.