The U.S. government’s claim that it had an annual trade deficit of more than $500 billion with China is “false,” China’s Ministry of Commerce said Thursday in a research report, partly blaming statistical differences.

China’s official calculations show that its trade surplus in goods with the U.S. was around $323.3 billion in 2018, lower than the U.S. figure of $419.2 billion, the report said. Chinese data also show that the country’s trade deficit in services with the U.S. was $48.5 billion last year, higher than the U.S. figure of $40.5 billion.

The U.S.’ overall trade deficit with China has been caused by multiple factors, including different structures of industrial competitiveness, its economic structure noted for low savings and high consumer spending , as well its trade control policy, the ministry said.

China’s trade surplus against the U.S. chiefly comes from labor-intensive products, while its deficit is mainly from agricultural products, and capital- or tech-intensive products such as airplanes and automobiles, the ministry said. “For example, in 2018 China imported $10.4 billion of cars from the U.S., and only exported $1.8 billion of cars to the U.S.”

The U.S.’ strict controls over exports to China are also to blame for its trade deficit, the report said, adding that such controls target around 3,100 products, mostly high-tech goods in which the U.S. holds an export advantage.

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