ASA's Heisdorffer Testifies on Importance of Trade with China

Donald Trump versus Xi Jinping won't have a happy ending

Donald Trump versus Xi Jinping won't have a happy ending

To take note of as well, the research boutique further pointed out how although the Asian giant's surplus with most other countries had declined over the past two years, that with the U.S. was near record highs.

Sales of new energy vehicles, mainly comprising electric and hybrid vehicles, jumped by over 117% year on year to 68,000 units last month.

Some exporters already are reeling from previous United States tariff increases of up to 500 percent on washing machines, solar modules and some metal products, meant to offset what the Trump administration says are improper subsidies.

"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".

Honda's sales fell by 13% to 97,587 units in March with the brand hindered by engine problems which forced it to temporarily suspend sales of CRV and Civic models produced at its Dongfeng Honda Automobile joint venture last month.

Jacky Patel, the president of OM Lighting, an exporter of Chinese lighting products to several USA states including Florida, said the tariffs would be passed onto U.S. consumers.

"(China) wants to highlight that the Chinese navy is ever ready and secondly, it is a signal to the government in Taipei you better not go further", Collin Koh, research fellow at the S. Rajaratnam School of International Studies' Maritime Security Program, told CNN.

China and the United States - the world's two largest economies - are locked in an ugly trade spat with both sides hitting back at each other by imposing slapping economic tariffs. Its imports from the United States rose 8.9 percent in the quarter and 3.2 percent in March.

Some analysts had expected a pullback in March exports following an unusually strong start to the year, when firms stepped up shipments before the long Lunar New Year holiday in mid-February.

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"We believe export growth will slow due to yuan appreciation and rising trade tensions".

"The mission of building a mighty people's navy has never been more urgent than it is today", Xi, dressed in army fatigues, said in remarks on the helicopter deck of one of China's most advanced destroyers.

Xi said that China will sharply widen market access for foreign investors, a chief complaint of the country's trading partners and a point of contention for US President Donald Trump's administration, which has threatened billions of dollars in tariffs on Chinese goods.

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.

Imports of commodities continued to lead the way in March as manufacturers replenished inventories ahead of a seasonal pick-up in demand.

Calculated with exchange rates of respective years, China's GDP accounted for 14.8 percent of the world economy in 2016, up from 12.5 percent in 2013.

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.

Indeed, the latest soundbites from Beijing will probably send the White House into fits of exasperation after China's trade figures were announced.

Under a so-called harmonised system of tariffs - Chinese products are now coded specifically so that the same product would face higher U.S. tariffs if used in a higher-tech sector like nuclear energy, rather than a more generic category like household electronics.

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