US trade deficit with China hit record high in October

The United States trade deficit with China was 29.5 billion in October, and the country's trade deficit grew 4.8 percent in October from September to $42.2 billion, the US Commerce Department said on Dec 11.

Exports to China rose by 23 percent in October from September, reaching $10.82 billion. Imports from China added $2.44 billion, or an increase of 6.5 percent, to reach $40.29 billion.

China is the US' second largest goods trading partner with $503 billion in total of goods trade in 2011. Goods exports totaled $104 billion while goods imports totaled $399 billion. The US goods trade deficit with China was $295 billion in 2011, according to the Office of the US Trade Representative.

The US did not label China a currency manipulator in the US Treasury's semi-annual report on Nov 27 but said that the currency remained "significantly undervalued".