China's Exports Rebound More Than Forecast

China Trade Talks Continue Next Week in DC

The negotiations could head off the threatened U.S. tariffs targeting $150 billion in imports, while China has warned $50 billion in goods are in the firing line. They included cutting the U.S. trade deficit with China by $200 billion by the end of 2020 and halting Chinese subsidies for advanced technology industries.

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.

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 United States delegation that made little headway in resolving the standoff.

But the export outlook is being clouded by the trade row with the United States, which could disrupt China's shipments and its supply chains.

According to the news agency Reuters, citing sources close to the talks, China has offered to buy more American goods and to reduce some tariffs, including those on cars.

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China's exports to the U.S. 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. In addition, the USA president wants sharply lower import tariffs for U.S. goods and a cut in Chinese state subsidies for advanced technologies.

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. Last year's merchandise trade surplus totaled $375 billion, according to USA data, while Chinese statistics put it at about $276 billion. Its imports from the U.S. rose 20.3 percent, the fastest growth in three months.

At the same time, imports growth accelerated to 21.5% from 14.4% in the previous month. China's imports of soya beans and crude oil rose in April from the previous month, though imports of iron ore and coal fell.

China's trade surplus with the USA clocked in at USD22 billion in April.

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