Trump's vow to slap higher tariffs on some Chinese goods in retaliation for unfair trade practices by that country seems to have paid off.
India on Saturday walked with China in its trade row with Washington, and offered to export soya beans, which Beijing may no longer be able to source from the U.S. But on Tuesday, Chinese President Xi Jinping appeared to reverse course.
That sent its quarterly trade surplus with the USA surging 19.4% to US$58.25 billion, though the March reading narrowed to US$15.43 billion from US$20.96 billion in February.
I'd only rejoin Pacific trade pact if deal was "substantially better" GOP unveils mock cover of Comey book with "ego" attack NY Daily News cover hits Trump over Comey book revelations MORE sought on Friday to reassure American farmers that an ongoing trade dispute between the US and China would not harm their industry, and vowed to "take care" of American agriculture.
The money and lending figures, along with trade data reported earlier yesterday, added to views that China's economy has sustained solid growth momentum from late a year ago into early 2018, contrary to earlier expectations of a slight slowdown.
Trade data released by Beijing on Friday reinforced that message with China's trade surplus with the United States surging by a fifth in the first three months of the year.
"We hope that the United States will listen patiently to rational and pragmatic voices on the trade balance issue". "Our attitude is rather clear, we do not want to see the happening of a trade war, but of course we are not afraid of it either". He said he will reduce tariffs on cars imported into his country.
He added: "China is going to end up treating us fairly".
"Until the Trump administration articulates those concerns and how China can address them, it's going to be very, very hard for China to make those changes", said Parker.
In an April 9 article published on the state-run media Global Times' website, retired People's Liberation Army lieutenant-general Wang Hongguang said the Chinese regime had all the military capabilities to invade Taiwan, and that it could be achieved within 100 hours-"without giving American or Japanese forces the chance to summon a massive military force to assist [Taiwan]", he wrote.
"The slowdown in broad credit growth that has been underway since mid-2016 showed no signs of abating last month", Capital Economics Senior China Economist Julian Evans-Pritchard wrote in a note.
Trump has portrayed the issue in a more favourable light.
"So even without looking at their 'technology pool, ' just their ability to do simple things like that I think really makes China a very, very attractive target for developing autonomy. I think we´re having some great discussions", he told the gathering of lawmakers in Washington, though he repeated that the United States would win a trade war between the two sides.
As one of those that responded to the poll put it: "Tariffs are generally a bad idea, but Communist China is a notable exception".
"(The Chinese) are very successful in what they're doing in some large companies, but if you look beyond that they're not particularly innovative", Kennedy said.
During Trump´s first year in office the surplus reached record highs - $375 billion by U.S. counting, or $276 billion according to Chinese data.
Only USD 3 billion in goods have been hit with tariffs in the escalating spat so far, with the US targeting steel and aluminium while China takes aim at pork, wine and other American products.
Trade between the two nations remained strong in the first quarter, with bilateral exchanges rising 13 percent to $142 billion.
The threatened levies would dent economic growth on both sides of the Pacific, analysts say.
- ACM Awards red carpet arrivals: See the photos
- Alleged shoplifter dies after altercation with employees
- International Value Advisers LLC Trims Stake in Mastercard (MA)
- Kompany: This is for our fans
- Volkswagen restructures management and company structure
- Follow Prince Harry, Meghan Markle royal wedding updates on WSLS.com
- Last minute tax tips before Tuesday's filing deadline
- EPS for Yamana Gold Inc. (YRI) Expected At $0.02 on May, 2
- Unnao rape case: CBI arrests woman who took girl to MLA Sengar
- Stock you Must See: Gilead Sciences Inc. (GILD)