China trade surplus with U.S. widens unexpectedly

China is hitting the US where it hurts soybeans

China is hitting the US where it hurts soybeans

A general view of a container port in Shanghai August 11, 2009.

Analysts expect to see the impact of the tariffs in July's figures.

In the first six months of the year, China's exports to the United States rose 13.6% from a year earlier, while imports from the U.S. increased by 11.8%.

This week, Washington threatened to impose 10% tariffs on another $200bn of Chinese imports.

China's surplus with the U.S. hit a record high last month, data showed today. "Trade wars are not easy to win", he said.

"Looking ahead, export growth will cool in the coming months as United States tariffs start to bite alongside a broader softening in global demand", Capital Economics analyst Julian Evans-Pritchard said in a statement.

"It noted that China has been willing to talk to the United States about trade irritants".

Separate data suggested some Chinese retailers moved up orders to the insulate themselves from the intensifying trade war that threatens to send up costs on a growing number of consumer products.

After a strong start to the year, growth in China's exports has moderated recently, and is expected to face more pressure from the initial round of USA tariffs. Both official and private business surveys reported softer export orders last month as the trade row deepens.

Investors fear a prolonged trade battle with the United States could harm business confidence and investment, disrupting global supply chains and harming growth in China and the rest of the world.

China's commerce ministry has said the two sides are not discussing restarting trade negotiations, and renewed its pledge to "strike back" against Washington's latest threat to slap $200 billion of Chinese imports with new 10% taxes.

Imports grew 14.1 per cent in June, customs said, missing analysts' forecast of a 20.8 per cent growth, and compared with a 26 per cent rise in May. For January-June China's trade surplus with the United States rose to $133.76 billion, compared with about $117.51 billion in the same period past year.

The spiralling battle with Beijing shows no signs of cooling down, and observers warn the impact will begin to hurt soon as China's economy struggles with slowing growth just as leaders try to battle a worryingly large debt mountain.

China's exports to the United States rose 13.6 per cent in the first half of 2018 from a year earlier, while its imports from the U.S. rose 11.8 per cent in the same period.

He added, . that China lost its trust in the USA,. which he said was a precondition for trade negotiations.

Notícias recomendadas

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.