Friday, 22 June, 2018

China trade talks to continue in DC

President Donald Trump    Mark Wilson  Getty Images President Donald Trump Mark Wilson Getty Images
Charlie Simmons | 09 May, 2018, 00:56

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. China responded with threats of US exports to China in an equal amount and targeting industries that may cause the most impact.

Chinese Vice Premier Liu He was involved in the Beijing-based trade talks with the USA trade delegation.

China's trade surplus with the U.S. clocked in at USD22 billion in April. President Donald Trump tweeted last week that "it is hard for China in that they have become very spoiled with USA trade wins!"

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

Both exports and imports beat economists' expectations.

"We are working on something that we think will be great for everybody", White House press secretary Sarah Sanders told reporters on Monday without giving further details on the negotiations.

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Trade discussions between China and the USA have intensified as Trump has targeted the trade imbalance between the two countries and insufficient intellectual property protections in China.

For January-April, China's trade surplus with the United States was $80.4 billion. Last year's merchandise trade surplus totaled $375 billion, according to US data, while Chinese statistics put it at about $276 billion.

The massive imbalance in bilateral trade between the world's two biggest economies will likely reinforce US President Donald Trump's determination to continue taking a tough stance toward Beijing.

China said last week that some progress was made in the talks in Beijing, but acknowledged that the two sides remain far apart on some issues.

Trump has threatened to impose tariffs on as much as United States dollars 150 billion in Chinese goods, duties that can be imposed after a public comment period ends on May 22.

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