Friday, 19 July, 2019

China imports from U.S. plunge in June amid tariff war

US, China negotiators resume trade war talks Trump says China is letting U.S. down by not buying farm products
Jean Garcia | 12 July, 2019, 22:12

Imports of US goods fell 31.4% from a year earlier to $9.4 billion, while exports to the American market declined 7.8% to $39.3 billion, customs data showed Friday.

"Mexico is doing great at the Border, but China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would", Mr Trump said on Thursday on Twitter. "Hopefully, they will start soon".

On July 9, Chinese Vice Premier Liu He exchanged views with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin in a phone call on implementing an agreement reached between Xi and Trump at their meeting in Osaka, the Ministry said in an earlier statement, without elaborating.

President Donald Trump via Twitter Thursday morning said China is "letting us down" by not buying USA farm products "that they said they would". China's trade surplus with the United States widened by 3% to $29.9 billion.

Beijing agreed a year ago to narrow its trade surplus with the United States by buying more American natural gas and other exports but scrapped that plan after one of Trump's tariff hikes. Its exports to the USA fell by a sharper 7.8% in June, compared with a decline of 4.2% in May.

China's trade with the United States plunged last month as a tariff war battered exporters on both sides of the Pacific Ocean.

Google Translate Instant Camera adds 60 more languages
While that could help in an emergency or awkward situation, the translations offered online are apparently of higher quality. In the past, users might have noticed the translated text would flicker when viewed on your phone , making it hard to read.

That left China with a trade surplus of $50.98bn last month, compared with a $41.66bn surplus in May.

June marked the first full month of higher US tariffs on $200 billion of Chinese goods, which Washington announced weeks earlier after trade talks between the world's largest economies broke down. It gave no details or a date for more contacts.

"China is going to be buying a tremendous amount of food and agricultural product, and they're going to start that very soon, nearly immediately".

Trump has imposed 25% tariffs on $250 billion in Chinese imports.

On the morning of July 11, Trump's economic advisor Larry Kudlow told reporters at the White House that "our side expects China very soon to start purchasing American agriculture, commodities, crops, goods, and services".

The two countries are fighting over USA allegations that China deploys predatory tactics - including stealing trade secrets and forcing foreign firms to hand over technology - in a headlong drive to challenge American technological dominance.

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