Published: Wed, May 09, 2018
Worldwide | By Victor Meyer

China's trade surplus with United States widens to $22.19 billion in April

China's trade surplus with United States widens to $22.19 billion in April

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.

Mr. Trump is seeking to cut the chronic USA trade deficit and gain concessions over policies that foreign companies say force them to share technology with Chinese partners in order to gain market access. China responded with threats of US exports to China in an equal amount and targeting industries that may cause the most impact.

USA officials traveled to Beijing last week for talks on resolving the dispute between the world's two biggest economies.

China's trade surplus with the United States widened to $22.19 billion in April, from $15.43 billion in March, customs data showed on Tuesday.

China's exports to the United States rose 13.9 per cent in the first four months of 2018 from a year earlier, compared with a 14.8 per cent rise in January-March.

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"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. Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer, Assistant to the President for Economic Policy Larry Kudlow, and Assistant to the President for Trade and Manufacturing Policy Peter Navarro were all on the trip. "The president has a great relationship with President Xi", Sanders said.

Of note, the country's trade surplus with the USA expanded to $22.19 billion in April - compared with a surplus of $15.43 billion in March, customs data showed.

Imports in April also showed robust growth of 22% from previous year, up to USD171.7 billion.

That led to a widening trade gap in the first four months of 2018, climbing to $80.4 billion from about $71 billion in the same period past year. The high-level meetings are "constructive moves in the right direction" to resolve the tensions, she said. China's communist leaders have countered by outlining $50 billion in US goods that they would target with retaliatory duties.

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