China’s monthly trade surplus with the U.S. rose to a record in June and exports to the nation also soared, underlining the cause of an escalating trade war between the world’s two largest economies. The trade surplus with the U.S. was $28.97 billion, the highest in any month in data back to 1999. Exports climbed to $42.62 billion, also a high, the customs administration said on Friday. As the world’s largest exporter, China continues to benefit from robust global demand, but the increase in tensions and trade barriers with the U.S. is weighing on the outlook. Both China and the U.S. imposed 25 percent tariffs on $34 ... (full story)