China's trade gap with the USA widens despite tariffs threat
China's trade gap with the USA widens despite tariffs threat
China Trade Talks Continue Next Week in DC
09 May, 2018, 00:56
China's trade surplus with the United States clocked in at USD22 billion in April.
The meetings come after a series of tit-for-tat threats of tariffs on billions of dollars of goods sparked earlier this year by Donald Trump, who accuses China of using unfair practices to get an unfair advantage over USA exporters and costing American jobs.
The visit by the Chinese delegation comes soon after a USA presidential delegation led by Mnuchin went to Beijing for trade talks.
US officials traveled to Beijing last week for talks on resolving the dispute between the world's two biggest economies.
"China's top economic advisor, the Vice Premier, will be coming here next week to continue the discussions with the President's economic team", said Sanders who emphasized the "great relationship" between President Trump and Chinese President Xi Jinping.
"We believe this shows the USA wishes to reach a consensus with China on trade issues", ministry spokesperson Geng Shuang said at a regular media briefing.
"The core of the USA position is that China become a genuine market economy on an expedited schedule and that the United States reserves the right to be judge and jury in determining compliance", Scott Kennedy, senior fellow at the Center for Strategic and International Studies, wrote in a commentary about the talks.
The negotiations could head off the threatened United States tariffs targeting $150bn in imports, while China has warned $50bn in goods are in the line of fire.
The US delegation demanded that China curb the two nations' trade deficit by at least 200 billion dollars by the end of 2020 from 2018 levels, as well as lower tariffs and eliminate subsidies for high tech.
China's trade surplus with the US totaled $80.4 billion in January-April.
Imports in April also showed robust growth of 22% from previous year, up to USD171.7 billion.
China said last week that some progress was made in the talks in Beijing, but acknowledged that the two sides remain far apart on some issues.
Economists at ANZ said some Chinese exporters might be accelerating electronics shipments amid the tariff threats.
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