China trade talks to continue in DC

China's trade surplus with the US actually grew in April despite Trump's tough talk

China's trade surplus with the US actually grew in April despite Trump's tough talk

Tuesday's data also showed China's refined fuel exports were 46-percent higher than a year earlier at 5.12 million tonnes, but eased from a record-high in March at 6.69 million tonnes. Exports amounted to USD200.4 billion.

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.

Xi's top economic adviser, Liu He, who headed the Chinese side during the Beijing talks, is expected to visit Washington for the meetings next week, White House Press Secretary Sarah Sanders said Monday.

China's trade surplus with the US actually grew in April despite Trump's tough talk

China's April imports jumped 21.5%and its exports grew 12.9% against the prior year-ago period. They included cutting the USA trade deficit with China by $200 billion by the end of 2020 and halting Chinese subsidies for advanced technology industries.

"We are working on something that we think will be great for everybody", she told reporters.

Of note, the country's trade surplus with the US expanded to $22.19 billion in April - compared with a surplus of $15.43 billion in March, customs data showed. 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.

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The Trump administration has drawn a hard line in trade talks, demanding a $200 billion cut in the Chinese trade surplus with the United States, sharply lower tariffs and advanced technology subsidies.

Imports in April also showed robust growth of 22% from previous year, up to USD171.7 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.

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That left China with a trade surplus of US$28.78 billion for the month, compared with forecasts for a US$24.7 billion surplus in April and a rare deficit of US$4.98 billion in March.

Economists at ANZ said some Chinese exporters might be accelerating electronics shipments amid the tariff threats.

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