China's Exports Rebound More Than Forecast

09 May, 2018, 00:54 | Author: Bert Pena
  • China Trade Surplus with US Grew Sharply in April

Consequently, the trade surplus totalled USD28.8 billion in April, above the expected level of USD27.75 billion.

The news came during Monday's White House press briefing when a reporter asked Press Secretary Sarah Sanders whether President Donald Trump had any reaction to last week's trade talks in Beijing between a delegation of top US trade officials and Chinese government officials.

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

Beijing and Washington are trying to avoid a trade war between the world's two largest economies.

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

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Imports last month also grew more robustly than expected, suggesting China's domestic demand is holding up well, good news for policymakers looking to soften the blow from any trade shocks.

Chinese President Xi Jinping's top economic adviser, Liu He, will visit Washington next week to continue discussions with President Donald Trump's economic team, the White House said Monday. 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.

China's trade surplus with the USA widened to US$22.19 billion last month, from US$15.43 billion in March, according to Reuters calculations based on Customs data released yesterday.

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

The negotiations could head off the threatened United States tariffs targeting $150 billion in imports, while China has warned $50 billion in goods are in the firing line. The high-level meetings are "constructive moves in the right direction" to resolve the tensions, she said. Trump doubled down, threatening $100 billion in tariffs on Chinese imports to the U.S.

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