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China Exports Rise in March, Rebounding From Slump

China Exports Rise in March, Rebounding From Slump
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China's exports rebounded from a slide down in March and sales to the United States rose regardless of President Donald Trump's tariff hikes.
 
Exports rose 14.2% over last year to $198.7 billion, retrieving from February's 20.8% contraction, customs data showed Friday. Imports fell 7.6% to $166 billion, worsening the previous month's 5.2% decline.
 
Exports to the United States rose 3.7% to $31.8 billion, recouping from February's 28.6% decline besides Trump's tariffs of up to 25% on $250 billion of Chines goods.
 
Imports of American goods plunged 25.8% to $11.3 billion, hit by Chinese retaliatory duties and orders to buyers to look for other suppliers.
 
The decline has created to load on Chinese leaders to make peace in a tariff war with Washington over Beijing's technology ambitions.  'Exports have yet to completely recover from a sharp slowdown late last year,' said Julians Evans-Pritchard of Capital Economics in a report.
 
Chinese government spokespeople said Thursday talks with Washington were making advancement after nine rounds of negotiations. The latest three-day meeting in Washington last week had to deal with technology transfer, intellectual property rights, agriculture and enforcement.
 
Economists say a negotiation appears increasingly like. But they say even if that happens, this year's Chinese exports will be lackluster.
 
Washington is pushing Beijing to scale back plans for government-led creation of Chinese competitors in robotics and other technologies. Europe, Japan and other trading partners echo U.S. complaints those violate Beijing's market-opening commitments.
 
The combat has interrupted trade in goods ranging from soybeans to medical equipment. The dispute has rattled financial markets and prompted the International Monetary Fund and other forecasters to lower their outlook for global economic growth.
 
'The reversal of U.S. tariffs would certainly only provide a little boost to exports of around 1% to 2%,' said Evans-Pritchard. 'With global growth set in order to remain weak in the coming quarters, a strong rebound in exports therefore looks unlikely.'
 
Chinese exports to the 28-nation European Union rose 23.7% over a year earlier to $33.1 billion. Imports of European goods fell 4.9% to $22 billion. Exports to the United States increased by double digits through most of 2018 despite Trump's tariff hikes starting in July. But they slid in December just after the full impact hit. Exports to the United States in January and February fell 14.1% from the first year earlier.
 
This article is originally posted on tronserve.com

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