China's trade surplus with the U.S. swells amid trade tensions

China's trade surplus with the U.S. swells amid trade tensions

The United States and China will hold a new round of trade talks after no breakthroughs emerged from their first meeting. The US administration is either so foolish that it does not understand this or so arrogant that it does not care.

American negotiators, led by U.S. Treasury Secretary Steven Mnuchin, issued a lengthy list of demands, according to people familiar with the talks that the White House later called "frank" discussions.

The stepped-up checks have even hit China's WH Group Ltd 0288.HK , the world's largest pork company and owner of Smithfield Foods in the United States, and come amid increasing scrutiny of other US farm goods, including fruit and logs.

Amid preparations for the Trump-Kim summit, South Korean officials have been rattled by reports the US president is considering withdrawing American forces from the peninsula if his talks with Kim go well.

That compares with inspections carried out only "randomly" in the past, he told Reuters, significantly lengthening the time product stays at the port.

China's General Administration of Customs, which oversees food imports, did not respond to a fax seeking comment.

In a statement after the call, the White House said the US president "affirmed his commitment to ensuring that the trade and investment relationship between the United States and China is balanced and benefits American businesses and workers". "Otherwise, there would be surprises", she said.

Xi also told Trump he is supportive of a planned summit between Trump and Kim, and Xi expressed hope the US would consider Pyongyang's security concerns, Chinese state media said.

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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 on Tuesday called for USA trade talks to be conducted on an equal footing, as Beijing's top economic official is due in Washington next week for more discussions on a dispute that could trigger tariffs on billions of dollars of goods this month.

On April 2 the Chinese government implemented additional retaliatory tariffs of 25 percent on agricultural and food products imported from the US, including pork, according to the US Meat Export Federation (USMEF).

Liu turned a member of the Communist Celebration's Politburo, one in every of China's prime decision-making our bodies, final yr, and was named as one of many nation's 4 vice premiers in March.

China's trade surplus with the United States 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. "Bad news is we're pretty far apart at this point in time", he said.

"The U.S. has demanded too much". That has led WH Group to sharply reduce its imports anyway this year, added Chein.

China's trade surplus with the US swelled to $22.2 billion, up from $15.4 in March and the first increase since November, as exports to the USA grew at a double digit pace.

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