China Trade Surplus with US Grew Sharply in April

India’s trade minister Suresh Prabhu has hailed the move by China

India’s trade minister Suresh Prabhu has hailed the move by China

China's exports recovered at a faster than expected pace in April and imports growth accelerated notably, data from General Administration of Customs revealed Tuesday. Exports amounted to USD200.4 billion.

U.S. officials led by Treasury Secretary Steven Mnuchin visited Beijing last week for negotiations with the Chinese government, but the meeting appeared to yield little except an agreement that the two powers would continue to communicate despite "big differences" between them.

"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.

China is now embroiled in a months-long brawl with the USA over trade.

"The US and China asked one another to make sweeping concessions but failed to bridge divisions, raising the chances that each government will slap tariffs on tens of billions of dollars of the other country's exports", the daily reported. Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer, Assistant to the President for Economic Policy Larry Kudlow, and Assistant to the President for Trade and Manufacturing Policy Peter Navarro were all on the trip.

China's trade surplus with the US totaled $80.4 billion in January-April, up from $50 billion in the same period previous year.

For January to last month, it rose to US$80.4 billion, from about US$71 billion in the same period past year.

Among the list of hard-line demands that Trump's delegation handed China last week was an ultimatum to cut $200 billion from its annual trade surplus with the U.S.by 2020.

The widening surplus "reflects the difficulty of closing the trade gap between the two countries in the near term, but it is unlikely to obstruct the constructive progress made recently" in negotiations between Washington and Beijing, ANZ Bank's senior China economist, Betty Wang, said in a research note.

However, last week China said "big differences" remained between the two sides after the first round of talks.

Trump has threatened to hike tariffs on $150 billion in Chinese imports.

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