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Tuesday 20th March 2018

China's Exports Rebound, Trade Surplus with US Swells


7Dnews London

Wed, 09 May 2018 09:42 GMT

China's exports rebounded last month from a brief downturn while its politically sensitive trade surplus with the United States expanded, according to official data released on Tuesday 1 May.

Customs data showed that exports jumped 21.5% in April from a year earlier, bouncing back from a contraction the previous month in March thanks to resurgent global demand.

Imports expanded 12.9% year-on-year in dollar terms, leaving the country's politically sensitive monthly trade surplus with the rest of the world at $28.8 billion, a turnaround from the previous month's $5 billion deficit.

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

The latest figures come as China and the United States spar over Beijing's perennial trade surplus. US officials travelled to Beijing last week for talks with their Chinese counterparts to resolve the issue but made little progress. China's trade surplus with the US totalled $80.4 billion in January-April.

Among the list of hardline demands that President Donald Trump's delegation handed China last week was an ultimatum to cut $200 billion from its annual trade surplus with the US by 2020. Last year's surplus totalled $375 billion.

China's Commerce Ministry said the two sides had agreed to establish a mechanism to try to resolve their dispute, though differences remained, Chinese state media reported.

US President Donald Trump has threatened to hike tariffs on $150 billion in Chinese imports. China's communist leaders have countered by identifying $50 billion in US goods that they would target with retaliatory duties.

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