Monthly trade surplus of China with US reached record level in June, Bloomberg reports. Export volumes grew, which underlines the reason for trade war between two largest economies in the world.

Trade surplus was $28,97 billion. This is the biggest monthly number since 1999. Export grew to $42,62 billion.

Being the largest exporter in the world, China continues to benefit from stable global demand. However, outlook is not very bright, since the US and China continue exchanging import tariffs.

Experts think that growing trade surplus signals about robust US economy and weakening Chinese economy.

Yuan drop was the largest since 1994. It lost more than 3% relative to dollar. And although in long-term it will benefit country’s exporters, now currency’s behavior raises additional concerns.

Export to all countries rose in June by 11,3% and import by 14,1%, which is lower than forecasted 21,3%. Trade surplus with EU is the highest since 2011.