China's Trade Surplus With US Surges In Q1

China announces live-fire drill in Taiwan Strait

Banks in China extended 1.12tn yuan ($178.23bn) in net new yuan loans in March, rebounding from the previous month but just below expectations, data from the People's Bank of China showed yesterday.

President Xi Jinping last week struck a conciliatory note on trade, promising to cut tariffs on cars - a key point of USA anger - and other imports, as well as further open up the economy, which drew a warm response from Mr Trump.

"Most of (the March) drop is seasonal - Chinese New Year was later than usual this year, meaning more of the holiday disruptions will have dragged into March than in 2017", Capital Economics Senior China Economist Julian Evans-Pritchard wrote in a note. "The trend of peace and cooperation is moving forward and a Cold War mentality and zero-sum game are outdated".

Wisconsin, the source of more than 90% of the United States' cultivated ginseng, can't afford to lose access to the Chinese market - which has been a key buyer of American ginseng since the 1700s and is the destination for more than three quarters of the state's crop.

Even President Donald Trump is warning that Americans might have to accept "a little pain" before they enjoy the fruits of his escalating trade fight with China.

"We both have to do ease of doing business so that our procedures, red tape, and non-tariff barriers get sorted out so that investors from both the countries in their respective fields get the investment opportunities". China has a billion people. "And they are engaged in a systematic reprogramming of American perceptions of communism via media and educational propaganda".

Data from the Ministry of Commerce showed that non-financial ODI fell 29.4 percent year on year to 120 billion US dollars last year. On the same day, China responded with a $1.2 billion list of U.S. goods, which was equivalent to 17% of China's direct exports to the USA in that year. "It is about the US not showing sincerity at all", Gao said.

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"The most important thing we can do is to make sure the differences between the USA and China are a source of economic strength and sources of business opportunity, economic activity, not a source of conflict", Garrett said. But, that's not all.

President Trump says this is an untenable position to be in and, unlike, his predecessors, he is proposing to do something about it.

Nevertheless, the news from Beijing was good this week. This is miniscule in comparison with the overall 3.7 million bpd of crude oil production and 13.5 billion ft/d of gas that China is projected to produce in 2018.

Trump is right. We have a half-trillion dollar trade deficit with China. "Citizens please feel at ease", the statement said. The effect of a tariff war on these USA sectors will be more pronounced. But, they were standing toe-to-toe to see who will blink first.

But economist Larry Kudlow, newly appointed head of the National Economic Council, was saying not so fast.

For now, optimists are clinging to tentative signals from the Trump administration that it may be prepared to negotiate with Beijing and avert a trade war. We are 10 rounds into a 15 round match, and China has been beating America into a bloody pulp. They can not compete against the low-priced Chinese products, while its defence industry has limited buyers due to its high price. Mr. 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.

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