China March exports unexpectedly fall but Q1 trade surplus with United States soars

Labs Inc. appears to show the Liaoning carrier at the centre of a formation

He said he will reduce tariffs on cars imported into his country. The yuan appreciated around 3.7 per cent against the United States dollar in the first quarter this year, on top of a 6.6 per cent gain last year.

However, Xuzhou, an industrial city in eastern China's province of Jiangsu, was also on the list of the 10 smoggiest cities in March and during the first quarter, a sign that China's smog is shifting from its northern heartlands as a result of the crackdown.

Since there is no fixed timeline set by either Washington or Beijing for the actual imposition of tariffs, it is expected that the doors are still open for negotiations and a possible compromise would be worked out to limit the damages to both the sides.

Even as China's trade surplus narrowed overall in the first three months of the year, its surplus with the United States surged 19.4 percent to $58.25 billion from a year earlier, customs data showed on Friday.

The surplus reached $58 billion in January-March, customs bureau spokesman Huang Songping said at a briefing in Beijing. But the solid global growth outlook may provide some buffer.

During Trump's first year in office the surplus reached record highs - $375 billion by United States counting, or $276 billion according to Chinese data.

Meanwhile, imports surged 14% in March from a year ago, faster than the expected spike of 12%.

"These interactions show that China and India share a wide range of common interests and our bilateral cooperation holds great potential", she said.

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For Jan-March, imports rose a strong 18.9 percent on-year.

Trump is demanding Beijing take steps to narrow its trade deficit with the US, which Washington says stood at a record $375.2 billion previous year.

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 expansion.

At a time when the U.S. is increasingly backing away from global commitments, China and India can fill in the vacuum, just as they did in the case of climate change negotiations where both countries pledged they will reducing greenhouse gases by 2020, even as the USA later pulled out of the Paris Accord.

Total trade between the two nations rose 13% during the quarter, China's data showed, but the first shots in the latest trade spat were not likely to be felt in the recording period.

China's tech sector, which is key part of Beijing's longer-term "Made in China 2025" strategy to move from cheap goods to higher-value manufacturing, may be particularly vulnerable.

China's economy slowed slightly in the first quarter as the government battles debt and financial risk, with USA trade frictions threatening to further hobble growth, analysts surveyed by AFP said.

"We put a $50 billion tariff on, and then we put $100 billion tariff on".

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