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India's March exports fall amid trade tensions

14 Avril 2018

The United States and other Western nations permitted China to join the WTO in 2002 on the premise that more trade with the West would encourage pro-market reforms and democratic reforms.

Of the 1,500 or so metal parts made in Mr Chau's plant, including needles for espresso machines to puncture coffee capsules, he says around 200 could be hit by the proposed USA tariffs that stand to affect $US50 billion worth of Chinese goods.

In his address, Trump cast his tariff threats as necessary to cultivate a "fair and reciprocal trade" relationship between the US and China that he said has always been lopsided.

"The engineering sector, which had been leading the basket of goods exports, could manage to grow only by a meagre 2.62 per cent in March, making it imperative to redraw our external trade strategy". For the first quarter, the world's second largest economy still recorded a surplus.

"So China is negotiating with us very hard, very long, and we've made a lot of progress for opening it up and for getting rid of those tariffs".

But analysts said the trade threats may already be having an impact on exporters' activity.

"U.S. soybeans assaulted the Chinese market", said Liu, who was visiting a soybean industry exhibition this week in Shanghai.

Han Jing, counsellor for the Department of Latin America and Caribbean, an auxiliary office in China's Ministry of Foreign Affairs, on Monday reassured the country's regional partners that the ongoing friction between the world's two largest economies would not negate or slow China's commitments.

Suleski said he does not see a winning situation for the USA if a trade war is initiated. But the solid global growth outlook may provide some buffer.

"We haven't exactly examined our own house", says Lovely.

Oil imports during the month under review were valued at Dollars 11.11 billion, 13.92 per cent higher than the same month previous year.

The EU's foreign trade balance saw a deficit of €17.1 billion ($21.03 billion) in the first two months of this year, EU statistics agency Eurostat announced on Friday.

Imports of commodities continued to lead the way in March, with shipments of copper, crude oil, iron ore and soybeans all rising from the previous month. Last September, Chinese officials told Burke they were likely to impose tariffs on soybeans if trade tensions started to escalate.

China is now working on a new 2018-2020 action plan to tackle pollution, and experts have urged the government to introduce more targeted measures to tackle rising ground-level ozone, which has become a growing urban health threat.

Further to that strategy, it has been learned that The Trump Administration is working on a program, which could cost billions of dollars, to compensate farmers suffering from Chinese retaliatory tariffs on United States crops.

Earlier in the week, Xi gave a much anticipated speech at the annual Boao Forum for Asia in Hainan province on the northern edge of the South China Sea.

REBECCA LINDLAND: They'll have to cut down their exports, which means cutting down the plant production, which means cutting staff, cutting wages - cut, cut, cut.

MARY LOVELY: And so we see on the horizon that China may be able to do that, and that's a scary proposition.

India's March exports fall amid trade tensions