China’s Ministry of Commerce plays down impact of Trump tariffs on tradeBeijing says US consumers still prefer Chinese products
China’s exports to the United States are still growing thanks to a strong American economy and consumers’ preference for Chinese products, the country’s ministry of commerce said on Monday.
The delivery of previously placed orders and “front-loading” by Chinese shippers also contributed to a robust performance so far this year, the ministry concluded in a report reviewing and forecasting China’s trade performance.
As such, the impact of the US trade war on China’s trade and broad economy will be “limited” with “total risks under control”, the ministry concluded in the report.
“The United States unilaterally provoked economic and trade friction, which not only affects Sino-US trade but has also brought significant uncertainties to the development of global trade and investment,” the ministry said.
China’s exports to the US rose 13.3 per cent in the first 10 months compared with a year earlier while its imports from the US increased by 8.5 per cent in the same period, according to China customs data. In October alone, Chinese exports to the US rose by 13.2 per cent while its imports from the US fell 1.8 per cent, earning Beijing a trade surplus of US$32 billion last month.
According to Beijing’s commerce ministry, strong demand for imported products in the US – the result of low unemployment, robust growth and good consumer confidence – is a fundamental factor helping China to sell to the US despite tariffs imposed by US President Donald Trump.
