China's August exports rise 9.8 percent, imports up 20 percent

China's August exports rise 9.8 percent, imports up 20 percent

China's August exports rise 9.8 percent, imports up 20 percent

The Trump administration has placed punitive tariffs on US$50 billion in Chinese goods and threatened to tax all Chinese imports to the United States.

Trump has had Beijing in his crosshairs since he took office, and has applied increasing pressure to try to convince it to change its policies, allow more imports and reduce the $335-billion U.S. trade deficit with China.

Even with USA tariffs targeting $50 billion of Chinese exports in effect for their first full month in August, China's exports to the United States still accelerated, growing 13.2 percent from a year earlier from 11.2 percent in July.

While Apple did not offer an estimate of how much Trump's China tariffs would increase costs of production, the company argued that the tariffs will only hurt American consumers and companies, without curbing China's technology policies.

Responding to this, Trump said that the company could avoid Chinese import tariffs by switching production to the US. China has said that it is ready to retaliate with "necessary countermeasures" if President Donald Trump goes ahead with the tariff hike. "That totally changes the equation". The imports are equal to almost 40 percent of all the goods China sold the USA a year ago.

The White House has accused China of stealing USA intellectual property and forcing American companies to share their technology with Chinese companies.

For him, tariffs could potentially be positive, depending on which items remain on the massive list of products the Office of the United States Trade Representative has said could be affected if the next round of tariffs on imports from China is implemented.

Each round of new tariffs has been strongly opposed by USA tech companies.

China is currently in an escalating trade war with the Trump administration
Donald Trump: U.S. could move "very soon" to hit China with $200B in new tariffs

Chinese exports to the United States rose to $44.4 billion in August, a 13.2 percent increase from the same period previous year, according to customs data. "It would cause broad, disproportionate economic harm to United States interests", the letter said.

"Tariffs increase the cost of our U.S. operations, divert our resources and disadvantage Apple compared to foreign competitors", Apple wrote in its filing with the U.S. Trade Representative. An intensified trade war would likely hurt the US more than China, according to S&P Global Ratings.

China's annual export growth in August moderated slightly to 9.8 percent, the data showed, the weakest rate since March but only slightly below recent trends. The company's hardware products have taken it to become a $1 trillion company but those products are built in China which also creates thousands of jobs.

That would cover virtually all the goods imported from the world's second largest economy. China's trade surplus with the US has, therefore, risen almost 15 percent from January to August 2018.

Apple is highly exposed to a trade war between the USA and China.

USA companies are joining forces to oppose a common threat-tariffs. "Trump's remarks confirm his intention to continue escalating trade sanctions until China capitulates, and China has equally clearly signaled it has no intention of doing so".

China's exports and imports rose at a sharply slower pace in August, but its global trade surplus remained stable at Dollars 27.9 billion amid a heated USA trade war, official figures showed Saturday.

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