Published: Wed, May 09, 2018
Global | By Craig Ferguson

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

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

China's exports to the USA 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.

The visit by vice-premier Liu He - considered President Xi Jinping's right-hand man on economic issues - comes after he led talks in Beijing last week with a high-level USA delegation that made little headway in resolving the standoff. Those meetings appear to have made little progress, but further discussions are scheduled to resume next week.

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.

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.

On Tuesday morning, Mr. Trump tweeted that he would talk with Chinese President Xi Jinping at 8:30 a.m. ET.

"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. "The president has a great relationship with President Xi", Sanders said.

China's trade surplus with the USA totaled $80.4 billion in January-April. 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 US delegation demanded that China curb the two nations' trade deficit by at least 200 billion dollars by the end of 2020 from 2018 levels, as well as lower tariffs and eliminate subsidies for high tech. For January-April, it rose to US$80.4 billion, compared with about US$71 billion in the same period a year ago.

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.

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