China's Exports Rebound, US Trade Surplus Widens

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2018-05-08 HKT 16:00

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  • China's exports in April jumped sharply from the same month last year. File photo: AP

    China's exports in April jumped sharply from the same month last year. File photo: AP

China's exports rebounded in April and its politically sensitive monthly trade surplus with the United States grew for the first time in five months at a time of escalating friction between Beijing and Washington over the imbalance.

The figures released on Tuesday will likely reinforce Washington's determination after high-level talks in Beijing last week ended with both sides admitting there were big differences to overcome, with threats of tariffs on billions of dollars of goods casting a shadow.

The record imbalance is at the heart of US President Donald Trump's anger at what he describes as Beijing's unfair trade practices that are hurting American companies and destroying jobs.

Customs data showed the surplus grew 4.2 percent on-year to US$22.2 billion last month, with exports rising by a tenth and imports up more than 20 percent.

Compared with March, the surplus was up 43.9 percent, though analysts say seasonal factors such as Chinese New Year had dampened exports for the month.

Attention now turns to a visit next week by a delegation led by Vice Premier Liu He – considered President Xi Jinping's right-hand man on economic issues – hoping to iron out the differences.

However, there are concerns about the chances of success.

China's trade with the wider world also continued improve, Tuesday's figures showed, after it posted a rare deficit in March.

Exports surged 12.9 percent on-year, while imports rose 21.5 percent year-on-year – both figures beating expectations. (AFP, AP)

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