China sales rise 3% in March

China sales rise 3% in March

China sales rise 3% in March

China's global exports fell 2.7 percent for the month, while imports grew 14.4 percent - the early year hiccup in exports is normal with the long holiday disruptions, analysts say.

China's first-quarter exports to the USA rose 14.8 percent from a year earlier, despite a 5.6 percent drop in March.

Chinese stocks fell yesterday as softer-than-expected exports rekindled worries over the health of the world's second-largest economy amid rising trade tensions with the US.

"The sharp decline in March export growth after very solid performance in January and February suggests some exporters may have front-loaded exports [early] this year due to concern over the possibility of a Sino-US trade war after the US hiked tariffs on global imports on solar panels and washing machines", Lisheng Wang, an economist at the financial firm Nomura in Hong Kong, told Reuters.

But with the threat of tariffs hanging over almost a third of China's exports to the United States, analysts say its companies and their USA customers may try to front load shipments before any measures kick in.

Sales of new energy vehicles, mainly comprising electric and hybrid vehicles, jumped by over 117% year on year to 68,000 units last month.

The US has not "shown the sincerity needed for negotiations", commerce ministry spokesman Gao Feng said Thursday.

"'Now we're really negotiating and I think they're going to treat us really fairly", Trump said. "I think we're having some great discussions", he told the gathering of lawmakers in Washington, though he repeated that the USA would win a trade war between the two sides. "And, you know, at a certain point, they run out of bullets". China exported US$137.8 billion worth of high-tech products in the first quarter, up 20.5% on-year.

No hard timeline has been set by either Washington or Beijing for the actual imposition of tariffs, which leaves the door open to negotiations and a possible compromise which could limit the damage to both sides.

Only $3 billion in goods have been slapped with tariffs in the escalating spat - the United States targeted steel and aluminium while China took aim at pork and wine among a slew of other American products.

A week after escalating trade tensions with his threat to impose tariffs on an additional $100 billion in Chinese products, Trump said Thursday the two countries ultimately may end up levying no new tariffs on each other.

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