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US president due to arrive in Beijing on Wednesday afternoon, with trade a constant source of friction between two nations’ governments
China posted the second highest monthly trade surplus of US$26.6 billion with the United States in October, hours ahead of US President Donald Trump’s first state visit to China.
Trump is due to arrive in Beijing on Wednesday afternoon with a trade delegation which includes business chiefs from firms including Goldman Sachs and Boeing.
US-bound sales of Chinese products rose 8.3 per cent year to US$37.8 billion last month compared with the same month last year, China’s customs bureau said in a statement on Wednesday. Purchases of American goods increased 4.3 per cent to US$11.1 billion.
China-US talks: What are the three things Donald Trump and Xi Jinping want most?
China’s overall exports jumped 6.9 per cent to US$189 billion, while imports rose 17.2 per cent to US$150.8 billion.
The trade surplus with the US accounted for 70 per cent of the country’s total surplus in October and nearly two-thirds of the total so far this year, according to customs data.
Trump has long accused Beijing of building up a huge trade surplus through unfair trade policies and threatened high tariffs on Chinese products during his presidential election campaign.
The US says its deficit with China in 2016 was S$347 billion. China’s official statistics put the trade gap with the US at US$254 billion.
Trump’s stance softened after he met Chinese President Xi Jinping in Florida in April, with a one-year trade plan to tackle the trade imbalance.
Beijing announced in May it would open up its markets to products including American beef and liquefied natural gas imports and US rating agencies. China has also repeatedly called for the US to lift a ban on some high-tech products sales to China.
Trump has kept up pressure on China, including a starting an investigation into allegations of intellectual property theft by Chinese firms against US companies.
What do Chinese people really think about Donald Trump?
Timothy Stratford, former assistant US trade representative for China affairs, said: “I’m optimistic that there will be some very good outcomes from President Trump’s visit, including some good business deals to be signed between companies from the two countries.
“Energy will be a big one [for economic cooperation],” Stratford said in an interview last week.
http://www.scmp.com/news/china/dipl...ounces-big-trade-surplus-us-ahead-trump-visit
China posted the second highest monthly trade surplus of US$26.6 billion with the United States in October, hours ahead of US President Donald Trump’s first state visit to China.
Trump is due to arrive in Beijing on Wednesday afternoon with a trade delegation which includes business chiefs from firms including Goldman Sachs and Boeing.
US-bound sales of Chinese products rose 8.3 per cent year to US$37.8 billion last month compared with the same month last year, China’s customs bureau said in a statement on Wednesday. Purchases of American goods increased 4.3 per cent to US$11.1 billion.
China-US talks: What are the three things Donald Trump and Xi Jinping want most?
China’s overall exports jumped 6.9 per cent to US$189 billion, while imports rose 17.2 per cent to US$150.8 billion.
The trade surplus with the US accounted for 70 per cent of the country’s total surplus in October and nearly two-thirds of the total so far this year, according to customs data.
Trump has long accused Beijing of building up a huge trade surplus through unfair trade policies and threatened high tariffs on Chinese products during his presidential election campaign.
The US says its deficit with China in 2016 was S$347 billion. China’s official statistics put the trade gap with the US at US$254 billion.
Trump’s stance softened after he met Chinese President Xi Jinping in Florida in April, with a one-year trade plan to tackle the trade imbalance.
Beijing announced in May it would open up its markets to products including American beef and liquefied natural gas imports and US rating agencies. China has also repeatedly called for the US to lift a ban on some high-tech products sales to China.
Trump has kept up pressure on China, including a starting an investigation into allegations of intellectual property theft by Chinese firms against US companies.
What do Chinese people really think about Donald Trump?
Timothy Stratford, former assistant US trade representative for China affairs, said: “I’m optimistic that there will be some very good outcomes from President Trump’s visit, including some good business deals to be signed between companies from the two countries.
“Energy will be a big one [for economic cooperation],” Stratford said in an interview last week.
http://www.scmp.com/news/china/dipl...ounces-big-trade-surplus-us-ahead-trump-visit
