Tuesday, June 25, 2019
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US-China trade talks: Chinese exports rise as two sides try to make a deal

According to Chinese government data released on Thursday in Beijing, the value of Chinese goods exported in January increased by 9% compared to the previous year. Robust performance surprised economists, who had expected exports to contract for the second month in a row.
The slowdown in China's huge economy has alarmed corporations and investors around the world – and it could get worse if Beijing and Washington fail to reach trade agreements. Including top companies Apple (AAPL) and Caterpillar (CAT) The weakness of the world's second largest economy has lately been blamed for its disappointing profits.

The strong export data were announced when two days of high-level trade talks between the United States and China began in Beijing. Negotiations will be led by US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin and Vice Premier Liu He for China.

The negotiators are trying to reach a deal before the beginning of March, when the US government should drastically increase tariffs on Chinese goods worth $ 200 billion. The tariffs imposed by the two countries last year on the huge exports of other countries led to significant disruptions for companies and unsettled the financial markets.

Investors have become more optimistic that an agreement can be reached. US President Donald Trump said this week he was ready to extend his deadline on March 1, when the two sides seemed close to a deal.

Despite the recovery in Chinese exports in January, analysts are skeptical that they will last.

Exports are likely to have increased as Chinese companies toppled orders before the Lunar New Year, which fell in early February. The annual holiday, in which the land is shut down for at least a week, came in February last year.

According to Julian Evans-Pritchard, high-ranking Chinese economist at the research firm Capital Economics, demand for Chinese goods will be depressed, regardless of whether a trade agreement is reached between the US and China, according to a slowdown in global growth.

"Although the recent recovery in trade is genuine, the outlook for this year is still modest," he wrote in a statement to clients on Thursday.

Kevin Liptak contributed to this report.



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