China trade talks to resume in Washington next week: White House

China-US Trade Gap Widens as Firms Run to Beat Looming Trump Tariffs

China trade talks to resume in Washington next week: White House

Imports expanded 12.9 percent year-on-year in dollar terms, leaving the country's global trade surplus for the month at $28.8 billion, a turnaround from a $5 billion deficit the month before. Trump wants China to cut its annual trade surplus with the U.S.by at least $200 billion by the end of 2020 and refrain from retaliation against proposed US tariffs.

The US government says it will attempt to resolve bilateral trade friction and imbalances with China through upcoming talks in Washington.

Mr. Trump is seeking to cut the chronic USA trade deficit and gain concessions over policies that foreign companies say force them to share technology with Chinese partners in order to gain market access.

The team of US trade officials who made the trade trip provided the presidential briefing.

China's top economic official is to visit Washington next week to resume trade talks with US President Donald Trump's administration, the White House said on Monday.

Consequently, the trade surplus totalled USD28.8 billion in April, above the expected level of USD27.75 billion. President Donald Trump's demands that China slash its surplus with the USA have become a cornerstone of his combative economic policy.

The Trump administration has drawn a hard line, demanding a US$200 billion (S$268 billion) cut in the Chinese trade surplus with the USA, sharply lower tariffs and advanced technology subsidies.

It said both parties believe that healthy and stable Sino-US economic and trade relations are very important to the two countries, and both are committed to solving relevant economic and trade issues through dialogue and consultation.

China said last week that some progress was made in the talks in Beijing, but acknowledged that the two sides remain far apart on some issues.

The negotiations could head off the threatened USA tariffs targeting $150 billion in imports from, while China has warned $50 billion in goods are in the firing line.

The data comes as Chinese officials plan to accelerate the development of the domestic chip market, Reuters reported this month, and as China's state-backed semiconductor fund is near closing a 120 billion yuan ($18.98 billion) investment round for a second fund to support the domestic chip sector and help cut reliance on imports.

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