Thursday, 05 December, 2019


China's trade surplus with U.S. surges, calls for patience

China's trade surplus with U.S. surges, calls for patience China's trade surplus with U.S. surges, calls for patience
Bennie Garza | 13 April, 2018, 17:36

China's aluminium exports in March rose to their highest since June as favourable pricing led the world's biggest producer to sell more overseas even as the nation faces scrutiny over its trade practices amid a spat with the United States.

Exports of aluminium rose just as the United States imposed a 10 percent tariff on imports of the metal on March 23 along with a 25 percent duty on steel imports.

In the second opening-up, under Xi's watch, China would launch a number of measures to broaden its market access, he said.

China's trade gap with the U.S.is smaller than the official figures show if trade via Hong Kong and other transshipment points and trade in services are calculated, said Mr. Huang. Last year, the country's exports to China amounted to US$29.4 billion, or 12.4 per cent of its total.

The announcement by the maritime safety authority in the coastal province of Fujian coincided with remarks by President Xi Jinping on the importance of naval power while attending a massive fleet review in the South China Sea off the coast of Hainan province. "They were not allowed to sell beef in China", Trump said.

However, the two sides still appear to be a long way from finding common ground based on commentary in recent days.

China and the United States have not held any negotiations on their bilateral trade frictions, Gao said, adding that it is not a matter of whether Beijing is willing to negotiate with Washington. Many besides Mr Trump share that hope. "I think we're having some great discussions", he told the gathering of lawmakers in Washington, though he repeated that the United States would win a trade war between the two sides. The administration has proposed tariffs on $50 billion in Chinese goods and threatened to go after $100 billion more.

A looming trade war, however, is going to dent trade growth, said Julian Evans-Pritchard, an economist at Capital Economics. "They are ready to pull the trigger", Salitsky pointed out.

Analysts polled by Reuters had predicted new yuan loans would rebound to 1.2 trillion yuan in March, from February's weaker-than-expected 839.3 billion yuan.

Only $3 billion in goods have been slapped with tariffs in the escalating spat - the USA targeted steel and aluminium while China took aim at pork and wine among a slew of other American products. He pointed to Chinese trade with Latin America that he said had surged 18.8 percent to almost $260 billion past year alone.

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