China’s January exports rebound; imports fall
BEIJING (AP) — China’s January exports rebounded from a contraction amid a tariff battle with Washington while Chinese purchases of U.S. goods plunged.
The data were announced Thursday as Chinese and U.S. negotiators began talks President Donald Trump says might decide whether he escalates a fight over Beijing’s technology ambitions by going ahead with a March 2 tariff hike on $200 billion of imports.
Total exports rose 9.1 percent from a year earlier to $217.6 billion, an improvement from December’s 3.5 percent decline, customs data showed. Imports declined 1.5 percent to $178.4 billion.
Exports to the United States sank 2.4 percent to $36.4 billion, squeezed by Trump’s tariff hikes.
Imports of American goods plunged 41.2 percent to $9.2 billion, reflecting retaliatory Chinese duty increases and orders to importers to find other suppliers.
The talks in Beijing this week may decide whether Trump allows another increase on $200 billion of imports from China to go ahead March 2.
Weakness in global demand for Chinese goods has increased pressure on the ruling Communist Party to make peace with Washington at a time when Beijing is trying to reverse an economic downturn. The government has warned Chinese exporters the global environment is “complicated and severe.”
“The downbeat outlook for global growth means that this year is likely to be challenging for Chinese exporters, even if the ongoing U.S.-China trade negotiations culminate in a deal,” said Julian Evans-Pritchard of Capital Economics in a report.
Chinese trade data early in the year are disrupted by the Lunar New Year holiday, which comes at different times in January or February each year. Factories rush to fill orders and then close for up to two weeks.
China’s global trade surplus for January was $39.2 billion. The surplus with the United States was $27.3 billion.
http://the-japan-news.com/news/article/0005544805
Asian stocks retreat as lacklustre China, U.S. data weigh
TOKYO (Reuters) - Asian stocks fell on Friday, retreating from four-month highs after data out of China raised concerns over deflationary pressures building in the world's second biggest economy.
The bearish impulse appeared likely to be passed on to European stocks, with spreadbetters expecting Britain's FTSE to open 0.1 percent lower, Germany's DAX 0.3 percent down and France's CAC 0.2 percent down.
Data released on Friday showed China's factory-gate inflation slowed for a seventh straight month in January to its weakest pace since September 2016 amid cooling domestic demand.
The broader equity markets had already been under pressure after Thursday's weak U.S. retail sales figures triggered fresh doubts about the strength of the world's largest economy.
That offsetting some cautious optimism over trade talks in Beijing between the United States and China.
Also casting a shadow, the White House said U.S. President Donald Trump will declare a national emergency to try to obtain funds for his promised U.S.-Mexico border wall, drawing immediate criticism from Democrats.
Aside from the data, immediate focus was on a meeting on Friday between the Trump administration's top two negotiators and Chinese President Xi Jinping in Beijing.
There has been no decision to extend a March 1 deadline for a deal that could forestall a further increase in U.S. tariffs on some imports from China, White House economic adviser Larry Kudlow said on Thursday.
MSCI's broadest index of Asia-Pacific shares outside Japan, which had scaled a four-month high midweek on factors including expectations for reduced U.S.-China trade tensions, was down 1 percent.
The Shanghai Composite Index lost 0.8 percent following Friday's discouraging data.
https://www.marketscreener.com/news/Asian-stocks-retreat-as-lacklustre-China-U-S-data-weigh–28014330/
https://www.kitco.com/charts/livegold.html
https://www.bloomberg.com/markets/stocks/futures