China's March trade weakens, surplus with U.S. at $15.4B

China's March trade weakens, surplus with U.S. at $15.4B

In a move to further force China to lower the billions of goods trade surplus running with the US, Trump unveiled tariff representing about $50 billion of technology, transport and medical products early this month, drawing an immediate threat of retaliatory action from Beijing.

Trump cited a speech by Chinese President Xi Jinping that the USA president interprets as a signal China is about to open its markets to more US goods.

"And I was noticing that there were some tariffs that were issued on farmers from Iowa and OH etc".

US efforts to boost exports of technology-based goods, begun under Trump's predecessor, Barack Obama, conflict with China's plan for state-led development of global competitors in fields from robotics to electric cars.

In his meeting with a group of governors and senators, Trump alleged that China has consistently treated the United States agriculture "unfairly".

It was not held past year amid the Dokalam standoff.

It is evident from the increase in visits by top diplomats from both countries, including the low-key one by NSA Ajit Doval last week. We believe that expanding market access can play a vital role in increasing our agricultural trade surplus.

Last month, President Xi delivered a strongly nationalistic speech in which he vowed to protect "every inch" of China's territory. China's total exports previous year rose 7.9 percent, down from the heady double-digit rates of the past decade.

China's exports to the United States rose 14.8 per cent YoY, while imports grew 8.9 per cent YoY.

"But this is marred and disrupted by unseemingly protectionist noises that are coming out from the Atlantic basin from North America and Europe", he said.

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Xi "said he's going to open up China".

China's exports rode a global trade boom a year ago, expanding at the fastest pace since 2013 and serving as one of the key drivers behind the economy's forecast-beating 6.9 percent expansion.

But a stronger currency could also be starting to erode Chinese exporters' competitiveness.

Kumar said there is vast potential to set up special clusters for Chinese investments like textiles, leather, food processing, electronic components and pharmaceuticals.

The stand-off lies in the Trump administration's ire at massive levies and what it considers unfair practices by China that he says are costing American jobs.

Allan Chau, the general manager of a Chinese factory making precision metal parts for U.S. customers, is still calling it a "proposed" trade war, but that has not stopped him from planning for the worst. We will do whatever to get the investment done. "That's the way it works", he said amid an applause.

Chau says he is now considering building a warehouse in Malaysia, Vietnam or Thailand, where he could ship his goods for re-export, or he talks of setting up a small factory in a South-east Asian country to avoid the increased tariffs altogether.

Now under the SED, India and China have five working groups which include infrastructure, high-tech, energy, resource conservation and policy coordination. We now give them multiple three-month visas.

"This is a honest request for reciprocity which is that we have liberalised all the business regimes for Chinese businessmen. If you could make this possible for our investors, it will really help in taking this investment forward from Indian investors who are very keen to come to China". He suggested extension of India's IT corridor in Chinese city of Dalian to the rest of Chinese provinces to combine India's software with China's hardware.

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