Traders are keenly anticipating signs of what US President Joe Biden might do about reviving tariff war talks with Beijing.
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China’s exports surged 32.3.6% in April compared to the previous year as global demand revived despite the persisting coronavirus pandemic.
Exports rose to 264 billion dollars (£190 billion), in line with the previous month’s growth but down from the explosive 60.6% rise in the first two months of 2021, customs data showed on Friday.
Imports increased to 43.1%, accelerating from March’s 38.1% expansion.
Exports to the United States rose 30.8% over a year ago to 42 billion dollars despite a lingering tariff war with Washington, the General Administration of Customs of China reported. Imports of American goods rose 23.5% to 13.9 billion dollars.
China’s global trade surplus narrowed by 5% to 42.8 billion dollars, an indication demand is recovering faster in the country than in the rest of the world. Its political volatile surplus with the United States widened by 33.4% to 28.1 billion dollars.
Exporters have benefited from the relatively early reopening of China’s economy and demand for masks and other medical supplies while some governments are re-imposing anti-virus curbs that limit business and trade.
Traders are watching for signs of what US President Joe Biden might do about reviving tariff war talks with Beijing.