Chinese exports fall amid U.S. tariffs, weak global demand

Copper price: Chinese concentrate imports hit monthly record

Copper price: Chinese concentrate imports hit monthly record

Chinese President Xi Jinping and his US counterpart Donald Trump agreed in December to seek an agreement to address USA concerns and remove all additional tariffs.

Kudlow said a deal in America's best interests would include China's enforcement of an end to intellectual property theft and cyber hacking, a provision that allows USA companies operating in China to own themselves, and substantially lower or a potential end to tariffs on cars, commodities, industrial supplies and agriculture.

"We're talking to them (Chinese officials) every day, but no one's got any trip plans", Willems told reporters on the sidelines of a Georgetown Law School trade event in Washington.

Chinese officials were surprised Trump walked away from denuclearization talks with Kim and do not want the same thing to happen to Xi, the newspaper said.

Chinese Commerce Minister Zhong Shan had on Tuesday said the negotiation process was very "difficult and taxing" with "lots left to do", but that breakthroughs had been made in several areas.

'A date hasn't been finalized, ' Branstad said in an interview with The Wall Street Journal.

Still, the rhetoric from Beijing and Washington has been positive. Citing a possibility to experience a recurrence of such corpulent volume of trade deficit again in 2019, a chief economist at MUFG in New York, Chris Rupkey said, "The trade deficit exploded previous year despite the Trump administration efforts to make America great again, and the trend is unlikely to get any better in 2019".

China-US trade in goods
China-US trade in goods

This is the weakest start to the year for Chinese trade since 2016, according to Capital Economics.

And weak United States employment data added to the pessimism, causing Wall Street to dive at the open, and although it recovered some ground by the end of session, all three main indices closed lower for the fifth consecutive day.

China does not systematically give subsidies to its state-owned firms, said the head of its state assets regulator on Saturday, when asked about global concerns China adopts implicit preferential policies for state-owned enterprises.

The subsidies were denied by China's state-assets watchdog, which manages the country's 102 state-owned giants. The two countries had reportedly been considering a Trump-Xi summit around March 27 to clinch a trade agreement.

A second source, also familiar with the situation, said China thought it was getting close to a deal but now realized that won't be so easy to achieve.

Both sources spoke on condition of anonymity as they were not authorized to speak to the media.

"It is not good for Xi to go to America to sign such an agreement". However, he did not answer a question on when he expected a pact would be inked.

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