Friday, 22 June, 2018

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

President Donald Trump    Mark Wilson  Getty Images President Donald Trump Mark Wilson Getty Images
Faye Gross | 11 May, 2018, 00:58

BEIJING-Chinese exports rebounded in April, as companies rushed to make shipments ahead of expected tariffs brought on by trade tensions with the U.S. US officials traveled to Beijing last week for talks with their Chinese counterparts to resolve the issue but made little progress. Those meetings appear to have made little progress, but further discussions are scheduled to resume next week.

Overall, China's April trade balance was a positive $28.78 billion, topping predictions of $24.7 billion.

"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.

White House press secretary Sarah Huckabee Sanders announced the plan for continued talks on Monday. Imports surged 21.5% from a year earlier, compared with a 14.4% increase in March.

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China on Tuesday called for USA trade talks to be conducted on an equal footing, as Beijing's top economic official is due in Washington next week for more discussions on a dispute that could trigger tariffs on billions of dollars of goods this month.

Trade talks with China will continue next week, according to President Donald Trump. Last year's merchandise trade surplus totaled $375 billion, according to USA data, while Chinese statistics put it at about $276 billion.

Trump has threatened to hike tariffs on $150 billion in Chinese imports.

China is imposing and threatening tariffs of US agricultural products, including a 25 percent soybean tariff.

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