CHINA-US: CHINA'S U.S. TREASURY HOLDINGS DROP
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China’s holdings of U.S. Treasuries dipped in May to the lowest in two years amid an escalation of the trade war, falling by $2.8 billion to $1.11 trillion, according to Treasury Department data released in Washington on July 16. It was the third straight month of declines and left the nation’s holdings the smallest since May 2017. China remained the biggest foreign creditor of the U.S. Japan was next, with $1.1 trillion, up by $37 billion from a month earlier, which was the biggest gain since 2013. The $9.2 billion gap between the two nations’ holdings was also the smallest since Japan was last the largest U.S. foreign creditor two years ago.
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