World News

Trump zig-zags on trade jarring but could get results, experts say

Trump zig-zags on trade jarring but could get results, experts say

"I have the impression the leadership is not fully briefed about the seriousness of the atmosphere against China in the US establishment".

That sent its quarterly trade surplus with the USA surging 19.4 per cent to US$58.25 billion (RM225.6 billion), though the March reading narrowed to US$15.43 billion from US$20.96 billion in February.

In recent years, China's import demand also rose at a fast pace and contributed significantly to global trade growth and promoted the rebalance of world economy.

China's exports to the U.S. rose 14.8 per cent in the first quarter from a year earlier, while imports rose 8.9 per cent.

"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".

While Washington does not challenge Communist China's claim over Taiwan, the official U.S. policy simply states that people on both sides of the Taiwan Strait recognize there is but one China and Taiwan is part of China.

China's trade surplus with the rest of the world vanished in March, but some economists were quick to ascribe that to seasonal quirks in the data, predicting that it would soon reappear.

The latest proposed Chinese tariffs would add a 25 percent charge on pork and aluminum scrap, mirroring Trump's 25 percent duty on steel, according to the Commerce Ministry.

That produced a trade deficit of US$4.98 billion for the month, but such shortfalls are not uncommon for China early in the year, likely due to seasonal factors. Now, they hadn't sold it in, what, 14 years or something.

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- The non-manufacturing sector accelerated the pace of growth in March with its PMI standing at 54.6, up from 54.4 in February.

Five years since its establishment and as an important carrier to fulfilling the initiative for building a community with a shared future for mankind, as well as an global cooperation platform for all countries across the world, the Belt and Road Initiative (BRI), has become the most welcomed worldwide public product. Shipments of copper, crude oil, iron ore and soybeans all rose from the previous month.

Fears of a trade war have been rumbling since last month as President Donald Trump has threatened a series of tariffs on hundreds of billions of dollars of Chinese goods, sparking tit-for-tat warnings from Beijing.

China's exports rode a global trade boom previous year, expanding at the fastest pace since 2013 and serving as one of the key drivers behind the economy's forecast-beating 6.9 percent expansion.

At the 5th India-China Strategic Economic Dialogue in Beijing, Niti Aayog Vice Chairman Rajeev Kumar said that Beijing and New Delhi were unruffled by the "protectionist noises" and could well be the important anchor for the world economy.

"Chinese experts do not understand the current state of the United States", said Jie Zhao, a professor at the China Executive Leadership Academy Pudong, which trains senior civil servants in Shanghai.

The planned live-fire exercises follow a massive show of force by the PLA Navy on April 10 and 11, which conducted the country's largest military drills ever in the South China Sea.

Trade between the two nations remained strong in the first quarter, with bilateral exchanges rising 13 percent to $142 billion.


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