China's trade surplus with U.S. increases to $22.2B

09 May, 2018, 00:54 | Author: Mable Gonzales
  • President Donald Trump    Mark Wilson  Getty Images

China's April exports rose 12.9 per cent from a year earlier, beating analysts' forecasts for a 6.3 per cent increase and snapping back from a 2.7 per cent drop in March, which economists believe was heavily distorted by seasonal factors.

Chinese and U.S. flags are set up for a meeting during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing, China April 27, 2018. China responded with threats of USA exports to China in an equal amount and targeting industries that may cause the most impact.

Liu led the Chinese delegation that spent two days negotiating in Beijing last week with Treasury Secretary Steven Mnuchin, Trade Representative Robert Lighthizer and other senior United States officials.

"China's top economic advisor, the vice premier, will be coming here next week to continue the discussions with the president's economic team", said White House press secretary Sarah Sanders on Monday.

"We believe this shows the USA wishes to reach a consensus with China on trade issues", ministry spokesman Geng Shuang said at a regular press briefing.

"We are working on something that we think will be great for everybody", she told reporters.

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Diamond King, who won the Federico Tesio Stakes at Laurel, is also possible for the race. "We saw something really great". Bravazo, sixth in the Derby, might be the top Derby foe to challenge Justify over the shorter distance in Baltimore.

Trade discussions between China and the US have intensified as Trump has targeted the trade imbalance between the two countries and insufficient intellectual property protections in China. President Donald Trump's demands that China slash its surplus with the USA have become a cornerstone of his combative economic policy. That compared with 39.17 million tonnes in April previous year.

In the first four months of the year, China's surplus with the USA totalled USD80.4 billion, a 13% increase over the same period last year.

That news comes against the backdrop of intensive conversations between President Donald Trump's administration and Beijing about trade issues, including a demand from the American side to close the trade gap between the two countries.

China's trade surplus with the USA swelled to $22.2 billion, up from $15.4 the previous month, as its exports to the US grew at double digit rates.

Trump has threatened to impose tariffs on as much as United States dollars 150 billion in Chinese goods, duties that can be imposed after a public comment period ends on May 22.

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