China's June exports fall, imports shrink more than expected

US President Donald Trump accuses China of failing to make good on promises to buy more US agricultural products

According to Reuters, ANZ analysts noted that Trump's comments about China's alleged failure to live up to its commitments on trade with the USA may not be a huge move compared to previous statements but the us president may be delivering a warning.

For the first half, China's trade surplus with the USA rose around 5 percent to $140.48 billion, compared with $133.76 billion in the same period in 2018.

China's trade with countries participating in the Belt and Road Initiative (BRI) posted robust growth in the first half (H1) of this year, official data showed Friday.

"It's a move to manage market expectations" when a lot of uncertainties, especially the trade war, are clouding China's economic outlook, said Raymond Yeung, chief Greater China economist at ANZ Bank.

Last week, an influential Chinese agricultural researcher said it's unlikely Beijing will start purchasing large amounts of USA products anytime soon.

China's economic performance in the first half of 2019 is in line with expectations, according to Vice-Premier Liu He, with Beijing seeking to shore up confidence as it digs in for a potentially protracted trade war with the United States.

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-Chinese trade has weakened since President Donald Trump hiked tariffs on goods from China in a fight over Beijing's technology ambitions.

It is unclear if Trump's statements are legitimate at this point since the Chinese government previously denied White House claims that it reneged on commitments that were part of the trade talks.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke on the phone with their Chinese counterparts this week, marking the first high-level contact following the G-20 meeting.

China's slowing economy gives President Xi Jinping little room to fight back forcefully against the USA - which is using tariffs as leverage to try to force Beijing into opening up its economy. It gave no details or a date for more contacts. Mistrust between Washington and Beijing runs high. He said on Twitter that "China is letting us down".

China slapped a 25 per cent tariff on USA soybeans last July as part of a trade war between the world's two largest economies, bringing imports of United States beans to a halt until the two countries agreed to a truce on last December.

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