China's March trade weakens, surplus with United States at $15.4B

China's March trade weakens, surplus with United States at $15.4B

China's exports growth unexpectedly fell in March, the first drop since February a year ago, raising questions about the health of one of the economy's key growth drivers even as trade tensions rapidly escalate with the United States.

Fears of a trade war have been rumbling since last month as President Donald Trump has threatened a series of tariffs on hundreds of billions of dollars of Chinese goods, sparking tit-for-tat warnings from Beijing.

The confusion over Mr. Trump's stance on trade deepened on Thursday when he said, in a surprise move, that he was considering rejoining the multicountry trade deal known as the Trans-Pacific Partnership, after abruptly withdrawing the United States from the negotiations previous year.

The latest data showed China continues to benefit from the two-way trade.

"The sharp decline in March export growth after very solid performance in January and February suggests some exporters may have front-loaded exports (early) this year due to concern over the possibility of a Sino-U.S. trade war after the U.S. hiked tariffs on global imports on solar panels and washing machines", said Lisheng Wang, an economist at Nomura in Hong Kong.

Meanwhile, China's trade surplus with the 28-nation European Union, its biggest trading partner, shrank by half from the previous year to US$3.6 billion.

China registered a rare deficit of $4.98 billion with the rest of the world last month owing to seasonal factors such as the Lunar New Year holiday.

Photos from Winnie Mandela's funeral in South Africa
The burial ceremony will take place later in the day, ending a almost 2-week mourning period declared by the government. She faced death threats, house arrest, torture, internal exile, banishment, isolation and government slander.

Global chemical weapons watchdog 'on its way to Syria'
This signalled the end of one of the bloodiest assaults of the seven-year war and a major win for the Assad regime. Diplomats have expressed concern that the experts could be used as hostages or human shields.

NBA announcer suspended for 'cotton-picking' comment during basketball game
In the game, Davis said Russell Westbrook was "out of his cotton-pickin' mind" after he picked up a steal in the second quarter. Charlamagne used Brian Davis' remarks as an excuse to give his white viewers a lesson in ascendancy.

The Chinese naval activity is the latest in what has become a back-and-forth of large displays in and around the South China Sea, with USA warships conducting their own exercises with allies in the area.

The trade surplus with the USA contracted 13 percent from a year earlier, while China's global trade balance swung to a US$5 billion deficit.

"We hope that the USA will listen patiently to rational and pragmatic voices on the trade balance issue".

The actions come just after Chinese President Xi Jinping's promise last Tuesday to roll out measures to lower tariffs on imported cars and to ease foreign ownership restrictions on auto makers in China.

"Authorities offered no details or explanations, but a number of recent moves by the Trump administration have drawn criticism from China's government", NPR's Anthony Kuhn reports from Beijing.

"He's going to open it up, take down a lot of the trade barriers - maybe all of them - but take down a lot of trade barriers". "But even if this is avoided, trade looks likely to soften slightly over the coming quarters given that global growth now appears past its peak and China's own economy faces rising headwinds from tighter policy".

By Wang Ke, Qi Zhiming and Wu Qiuyu -The US accusation that China has put restrictions on US investment in China pursuant to Section 301 Investigation is false claim, according to experts from home and overseas.

Related Articles

  • "Mission Accomplished": Trump Praises Syria Strikes By US And Allies

    Syrian television said the attacks targeted a scientific research center in Barzeh, near Damascus, and an army depot near Homs. Friday evening's actions were a response to a chemical weapon attack on the town of Douma, in eastern Ghouta, last Saturday.
    CWG 2018: Wrestler Bajrang wins gold

    CWG 2018: Wrestler Bajrang wins gold

    Amit won a bronze at the AIBA World Boxing Championships a year ago and this is his first appearance in the Commonwealth Game . Stridsman dominated the fight, winning via a unanimous 5-0 decision over England's Paige Murney for the 60kg gold medal.
    Herbert Diess Joins Volkswagen As New Group CEO

    Herbert Diess Joins Volkswagen As New Group CEO

    As of February, VW had spent more than $7.4 billion in buying back about 350,000 vehicles. About 482,000 were sold in the USA , and 11 million around the world.
  • Kathua rape-murder: Resignation of Kashmir ministers accepted

    Kathua rape-murder: Resignation of Kashmir ministers accepted

    Meanwhile, PDP MLC Naeem Akhtar said that he wanted justice for the eight-year-old girl "at the earliest". However, several lawyers had stopped the police from registering cases against the accused in the case.
    Minnesota woman Hunted in death of Spouse along with Florida woman

    Minnesota woman Hunted in death of Spouse along with Florida woman

    But when the investigators arrived at Diamond Jo, they determined that Lois Riess had left prior to their arrival, Rose said. SUSPECT SEARCH UPDATE: The Dodge County Sheriff's Office announced new information in the search for Lois Riess, who is...
    Tottenham Hotspur Eyeing Win Over Wounded Manchester City

    Tottenham Hotspur Eyeing Win Over Wounded Manchester City

    He could win a recall for Saturday's home clash with Manchester City after left-back Danny Rose was ruled out with a calf problem. City will also be without Fernandinho who will sit out due to suspension and John Stones who is still recovering from injury.
  • Mourinho firm on Martial and Rashford

    Mourinho firm on Martial and Rashford

    José Mourinho has told Anthony Martial that he can not guarantee him first-team football at Manchester United . However, Mourinho says the duo are part of his system but can not guarantee playing time to either of them.
    Vantage Investment Advisors LLC Raises Stake in ExxonMobil (XOM)

    Vantage Investment Advisors LLC Raises Stake in ExxonMobil (XOM)

    Westchester Capital Management Inc increased Exxon Mobil Corporation ( XOM ) stake by 124.92% reported in 2017Q4 SEC filing. J P Morgan Chase & Co restated a neutral rating on shares of Exxon Mobil Corporation in a report on Monday, December 12th.
    Modi takes a metro ride to inaugurate Ambedkar memorial

    Modi takes a metro ride to inaugurate Ambedkar memorial

    Toran Dwars, a Bodhi Tree, a musical fountain, and facade lighting are other important elements of the memorial, a statement said. Prime Minister Narendra Modi on Friday accused the Congress of obliterating the work done by B.R.
  • Sega Ages fills the Nintendo Switch with Sega classics this summer

    Sega Ages fills the Nintendo Switch with Sega classics this summer

    What do you think of the Mega Drive Mini? Both the exact lineup and total number of playable games is now unknown. Although it seems like this partnership might be to manufacture a Sega Retro console.
    CWG 2018: Manika, Mouma clinch silver in women's doubles TT

    CWG 2018: Manika, Mouma clinch silver in women's doubles TT

    She had previously won a gold medal in the mixed team event while fell short with her partner Mouma Das in the final. Later, Johnson finished second in Heat 2 of the men's 1,500m with a time of 3 minutes and 47.04 seconds.
    CWG 2018: Wrestler Vinesh Phogat bags second consecutive Games Gold

    CWG 2018: Wrestler Vinesh Phogat bags second consecutive Games Gold

    Vinesh was simply too hot to handle since the beginning, having wrapped 10 points to her kitty by the end of the first period. Apart from the three gold medals, India claimed two Silver, both coming in boxing through Amit Phangal and Manish Kaushik.