Highlighting the challenge of significantly reducing that gap any time soon, China's trade surplus with the U.S. widened to US$22.19 billion last month, from US$15.43 billion in March, according to Reuters calculations based on customs data released yesterday.
Chinese and U.S. flags are set up for a meeting during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing, China April 27, 2018.
China's exports to the USA last month rose 9.7 percent from a year earlier, slowing from a 14.8 percent rise in the first quarter.
The April surge in the US-China trade gap was partly the result of rebounding Chinese exports in April, rising 12.9 percent from a year earlier and bouncing back from a 2.7 percent drop in March.
The visit by the Chinese delegation comes soon after a United States presidential delegation led by Mnuchin went to Beijing for trade talks.
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And the future financial needs of the automotive company still remained open. The two analysts were not immediately available for a comment.
US officials traveled to Beijing last week for talks with their Chinese counterparts to resolve the issue but made little progress. President Donald Trump tweeted last week that "it is hard for China in that they have become very spoiled with USA trade wins!" Commerce Secretary Wilbur Ross, U.S. Trade Representative Robert Lighthizer, Assistant to the President for Economic Policy Larry Kudlow, and Assistant to the President for Trade and Manufacturing Policy Peter Navarro were all on the trip.
Julian Evans-Pritchard, an economist at Capital Economics, said despite a seasonal uptick in export growth, the data suggest that foreign demand for Chinese goods has started to soften, with the prospect of possible USA tariffs weighing on the outlook. "The president has a great relationship with President Xi", Sanders said.
China's trade surplus with the USA totaled $80.4 billion in January-April, up from $50 billion in the same period a year ago.
That led to a widening trade gap in the first four months of 2018, climbing to $80.4 billion from about $71 billion in the same period a year ago. Last year's surplus totaled $375 billion.
Trump has threatened to impose tariffs on as much as Dollars 150 billion in Chinese goods, duties that can be imposed after a public comment period ends on May 22.