China's trade surplus with U.S. rises

China's Trade Surplus Vanishes, as the Markets Monitor Noise from the Oval Office

China's Trade Surplus Vanishes, as the Markets Monitor Noise from the Oval Office

Workers transport imported soybeans at a port in Nantong, Jiangsu province, China April 9, 2018.

The move just came days after Xi promised lower tariffs on auto imports, harsher punishment for intellectual property rights violations and the further opening of the financial sector in apparent overtures to cool tensions between China and the United States over the bilateral trade imbalance.

"The upshot is that the latest trade data suggest that both domestic and foreign demand held up well in March", said Julian Evans-Pritchard of Capital Economics in a report. That left China with a rare trade deficit for the month, also the first drop since last February.

Brazil is China's main partner in the Portuguese-speaking bloc, with trade of US$14.49 billion.

Customs officials say China's trade from January to March totaled over 1 trillion dollars.

Gao said the two sides have yet to start negotiations.

For Jan-March, imports rose a strong 18.9 percent on-year.

Its trade surplus with the U.S. in the first quarter grew more than 19 percent from the same period previous year to just over 58 billion dollars.


So while China produced 24 million cars in 2016, by comparison, the US manufactured only 3.8 million vehicles.

Chinese stocks fell yesterday as softer-than-expected exports rekindled worries over the health of the world's second-largest economy amid rising trade tensions with the US. But the solid global growth outlook may provide some buffer.

"China opposed the use of force in worldwide relations and called for respect for other countries' sovereignty, independence and territorial integrity", she said in response to media queries, seeking Beijing reaction to the air strikes.

"We put a $50 billion tariff on, and then we put $100 billion tariff on".

Proof in point: The United States used to be the world's number one automaker and vehicle exporter.

"We don't strive for a favorable balance of trade [for China], the current state of trade affairs are shaped by the market", Huang told a media briefing in Beijing on Friday.

Each side has slapped tariffs of $3 billion in goods so far, but the U.S. has threatened to impose duties on more products and China has vowed to retaliate.

China's tech sector, which is key part of Beijing's longer-term "Made in China 2025" strategy to move from cheap goods to higher-value manufacturing, may be particularly vulnerable. China exported US$137.8 billion worth of high-tech products in the first quarter, up 20.5 per cent on-year.

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