Trade War Widened US Trade Deficit, Increased Chinese Global Exports
1 week, 1 day ago

Trade War Widened US Trade Deficit, Increased Chinese Global Exports

Deccan Chronicle  

The US-China trade war initiated by President Donald Trump under his previous government failed to achieve its goals as the trade deficit of the US further widened while China’s global exports increased between 2017 and 2023. The US-China trade war, which began in March 2018 by imposing 25 per cent tariffs on steel and 10 per cent on aluminium, escalated to hundreds of Chinese goods. Between 2017 and 2023, US imports from China fell by $81.56 billion, reducing China’s share in US imports from 22.45 per cent to 14.39 per cent. Key contributors to India’s export growth were smartphones and telecom equipment, which saw a $6.2 billion increase, accounting for 17.2 per cent of the total rise.

India China Trade Exports Chinese Billion Cent Trade War  2017  increased  deficit  billion  cent  trade  imports  widened  2023  chinese  war  exports  trillion  global

History of this topic

Better Sino-US ties best option for Trump
4 days, 18 hours ago

Better Sino-US ties best option for Trump

China Daily  

US president-elect Donald Trump Donald Trump's victory in the US presidential election heralds the start of a new era in the United States. On the trade side, high tariffs are imposed on goods imported from China; on the technological side, there is export control on high-precision semiconductors and other hi-tech products; and on the investment side, US companies are forbidden …

Rahul slams govt over trade deficit touching all-time high
5 days, 13 hours ago

Rahul slams govt over trade deficit touching all-time high

Deccan Chronicle  

New Delhi: Slamming the Modi government, Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday said prioritising crony businesses over play-fair ones leads to weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation.Tagging a media report which said that trade deficit and imports are at an all-time high, Gandhi hit …

US tariffs on China unable to stop China trade growth
Trending News
5 days, 18 hours ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

US tariffs on China unable to stop China trade growth
Trending News
5 days, 18 hours ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

Trade deficit at a record $38bn as gold imports rise
Top News
1 week ago

Trade deficit at a record $38bn as gold imports rise

Hindustan Times  

India’s merchandise trade deficit widened to a record $37.84 billion in November, driven primarily by surging gold imports and falling exports, a trend experts said threatens to add pressure on the rupee which is already strained by three months of portfolio outflows. Imports, however, surged by 27% to $69.95 billion compared to $55.06 billion in November 2023, mainly due to …

India’s Trade Deficit Widens to Record as Gold Demand Soars
Top News
1 week ago

India’s Trade Deficit Widens to Record as Gold Demand Soars

Live Mint  

-- India’s trade deficit expanded to a record high in November, as the nation’s import bill ballooned, particularly due to a rise in gold shipments. The gap between exports and imports stood at $37.8 billion in November, trade ministry data showed Monday, much higher than the $23 billion deficit forecast by economists in a Bloomberg survey. A widening trade deficit …

Mexico, Canada, ASEAN gained more from US-China trade war than India: GTRI
1 week, 1 day ago

Mexico, Canada, ASEAN gained more from US-China trade war than India: GTRI

Live Mint  

New Delhi, Dec 15 Mexico, Canada, and 10-nation Southeast Asian bloc ASEAN benefited more from the US-China trade war than India, economic think tank GTRI said in a report. "Key beneficiaries of the trade war included Mexico, Canada, and ASEAN nations, which collectively accounted for 57 per cent of the growth in US imports. India also emerged as a significant …

China's Xi warns 'no winners' in trade war with U.S.
1 week, 6 days ago

China's Xi warns 'no winners' in trade war with U.S.

Raw Story  

by Peter CATTERALL Chinese President Xi Jinping warned Tuesday that there would be "no winners" in a trade war with the United States and vowed the country would hit its growth goals for the year. Former US president Donald Trump -- who returns to the White House next month -- unleashed a grueling trade war with China during his first …

China's foreign trade up 4.9% in first 11 months
1 week, 6 days ago

China's foreign trade up 4.9% in first 11 months

China Daily  

By Zhong Nan | chinadaily.com.cn | Updated: 2024-12-10 11:12 China's foreign trade expanded by 4.9 percent year-on-year to 39.79 trillion yuan in the January-November period of 2024, statistics from the General Administration of Customs showed on Tuesday. The country's exports rose 6.7 percent yearly to 23.04 trillion yuan, while its imports climbed 2.4 percent year-on-year to 16.75 trillion yuan during …

Trump is threatening to raise tariffs again. Here’s how China plans to fight back
1 week, 6 days ago

Trump is threatening to raise tariffs again. Here’s how China plans to fight back

LA Times  

President-elect Donald Trump has threatened to impose new tariffs on Chinese imports when he takes office, a move that would deepen a trade war he started six years ago. Trump kicked off a trade war in 2018 by imposing 25% tariffs on imports from China — including industrial machinery, cars, auto parts and television cameras. Last week, the U.S. expanded …

China's foreign trade up 4.9% in first 11 months
1 week, 6 days ago

China's foreign trade up 4.9% in first 11 months

China Daily  

China's foreign trade expanded by 4.9 percent year-on-year to 39.79 trillion yuan in the January-November period of 2024, statistics from the General Administration of Customs showed on Tuesday. The country's exports rose 6.7 percent yearly to 23.04 trillion yuan, while its imports climbed 2.4 percent year-on-year to 16.75 trillion yuan during this period, customs data showed. The import and export …

India faces high exposure to US trade policy shift
2 weeks, 4 days ago

India faces high exposure to US trade policy shift

Deccan Chronicle  

Chennai: India will be one of the key economies that are most exposed to a potential trade policy shift in the US under the new regime. The 2025 trade outlook is clouded by potential US policy shifts, including broader tariffs that could disrupt global value chains and impact key trading partners, said UNCTAD in its global trade update. This 3.3 …

If Trump starts a trade war with Mexico and Canada, where will Americans get all their stuff from?
Trending News
2 weeks, 5 days ago

If Trump starts a trade war with Mexico and Canada, where will Americans get all their stuff from?

CNN  

New York CNN — President-elect Donald Trump appears keen on launching a simultaneous trade war with America’s three biggest trade partners: Mexico, China and Canada. In Trump’s ideal world, these higher tariffs would directly boost domestic manufacturing, since US businesses would be able to avoid tariffs entirely. Cars With Mexico the top source of US motor vehicle imports, European nations …

If Trump starts a trade war with Mexico and Canada, where will Americans get all their stuff from?
Trending News
2 weeks, 5 days ago

If Trump starts a trade war with Mexico and Canada, where will Americans get all their stuff from?

CNN  

New York CNN — President-elect Donald Trump appears keen on launching a simultaneous trade war with America’s three biggest trade partners: Mexico, China and Canada. In Trump’s ideal world, these higher tariffs would directly boost domestic manufacturing, since US businesses would be able to avoid tariffs entirely. Cars With Mexico the top source of US motor vehicle imports, European nations …

Commerce Ministry Reviews India-US Trade Ties Amid Trump’s Controversial Remark
2 weeks, 6 days ago

Commerce Ministry Reviews India-US Trade Ties Amid Trump’s Controversial Remark

ABP News  

The commerce ministry is reviewing aspects of India-US trade relations, focusing on the implications of statements made by US President-elect Donald Trump during his election campaign and after the results, an official said, according to a PTI report. Trade experts have argued that Trump’s characterisation of India as an "abuser" of tariffs is unfair, as many countries, including the US, …

India-China trade: An alarming $18 billion discrepancy
3 weeks, 5 days ago

India-China trade: An alarming $18 billion discrepancy

Live Mint  

India-China trade data for 2023 reveals a widening discrepancy, with India's reported imports from China falling significantly short of China's export figures, raising concerns over potential anomalies such as under-invoicing, misclassification, and inconsistent reporting practices. In 2023, India's merchandise imports from China stood at $99.59 billion, which was 18.2% lower than the $117.68 billion worth of exports reported by China, …

Why Trump’s proposed tariffs may be bad news for China and Asia
3 weeks, 5 days ago

Why Trump’s proposed tariffs may be bad news for China and Asia

CNN  

Hong Kong CNN — President-elect Donald Trump took to social media on Monday to promise massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his second term. But Trump’s planned tariffs on Chinese goods could also benefit some countries in Southeast Asia as factories may relocate from China to other places …

Trump threatens Mexico, China, and Canada with tariffs over immigration and drugs
3 weeks, 5 days ago

Trump threatens Mexico, China, and Canada with tariffs over immigration and drugs

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Continuing, Trump said the higher import taxes would “remain in effect until such time …

China warns ‘no one will win’ if Donald Trump starts trade war
3 weeks, 6 days ago

China warns ‘no one will win’ if Donald Trump starts trade war

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China shot back at Donald …

Backlash against Chinese steel gives preview of Trump trade tensions
4 weeks ago

Backlash against Chinese steel gives preview of Trump trade tensions

Live Mint  

China’s industrial overcapacity became an issue of global concern even before the election of Donald Trump. Because of the sheer size of China’s steel industry—which produced around 1 billion metric tons last year—fluctuations in its domestic demand can send shock waves to the rest of the world. China’s net exports of steel reached a record 10.6 million metric tons in …

Spill-over of Trump’s anti-China trade stance
Trending News
1 month ago

Spill-over of Trump’s anti-China trade stance

Hindustan Times  

Trump’s trade war with China had a global impact, affecting and benefiting countries. US President Donald Trump The US-China trade conflict reflects the US’ protectionism from China’s inroads in its economy and the global economy, which it believes is detrimental to its local jobs, industries, industrial innovation, and national security. Thus, the tit-for-tat trade moves resulted in raising import tariffs …

Ripple effects of US policy on Chinese trade
1 month ago

Ripple effects of US policy on Chinese trade

Hindustan Times  

The United States ’s firm stance on Chinese products has become a cornerstone of its economic strategy, transcending party lines and administrations. As the world’s two largest economies clash, the consequences ripple through global markets, affecting supply chains, trade relationships, and economic growth worldwide. This bipartisan approach reflects a broader recalibration of the US's economic relationship with China, aiming to …

Tariff hikes will backfire, and China can manage such ‘external shocks,’ a senior official says
1 month ago

Tariff hikes will backfire, and China can manage such ‘external shocks,’ a senior official says

Associated Press  

HONG KONG — Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing. Responding to a reporter’s question about U.S. President-elect Donald Trump’s plan to impose 60% tariffs on imports from China, Vice Commerce Minister Wang …

Tariff hikes will backfire, and China can manage such 'external shocks,' a senior official says
1 month ago

Tariff hikes will backfire, and China can manage such 'external shocks,' a senior official says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Higher tariffs on Chinese exports …

China is armed and ready for trade war 2.0 with Donald Trump
1 month ago

China is armed and ready for trade war 2.0 with Donald Trump

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. That’s why, despite selling less to the United States, China’s share of global exports is now at 14%, up from 13% before the first Trump tariffs. At a press conference on Friday, Wang …

China is armed and ready for trade war 2.0 with Donald Trump
1 month ago

China is armed and ready for trade war 2.0 with Donald Trump

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. That’s why, despite selling less to the United States, China’s share of global exports is now at 14%, up from 13% before the first Trump tariffs. At a press conference on Friday, Wang …

China reveals new 9-point plan to Trump-proof exports that may see up to 60% higher taxes
1 month ago

China reveals new 9-point plan to Trump-proof exports that may see up to 60% higher taxes

Firstpost  

Trump is set to take office in January, renewing fears of an intensified trade war that could further strain the already fraught relationship between China and the US China on Thursday unveiled new policies to support its export sector as it braces for potential tariff increases by US President-elect Donald Trump, who has threatened to raise duties on Chinese goods …

American companies are stocking up to get ahead of Trump’s China tariffs
1 month ago

American companies are stocking up to get ahead of Trump’s China tariffs

Live Mint  

By 9 p.m. on election night, it had become clear to Jason Junod that Donald Trump was returning to the White House. When Trump began his trade war against China in 2018, U.S. businesses scrambled to front-load imports before tariffs were implemented, according to an International Monetary Fund analysis. Though China’s share of U.S. imports has declined to roughly 14% …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
1 month ago

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct

Live Mint  

New Delhi: India's merchandise exports continued their upward trajectory during April-October, with 21 of the top 30 sectors registering growth in value terms, buoyed by rising global demand for Indian goods. Growth in key sectors like pharmaceuticals, electronics, and engineering goods contributed to the overall gains, while a sharp decline was reported in traditionally strong sectors—petroleum and gems and jewellery—amid …

Trump's tariffs will worry India, but wait, there’s more
1 month ago

Trump's tariffs will worry India, but wait, there’s more

Live Mint  

The return of Donald Trump to the US presidency has raised fears worldwide of a trade war. This resulted in a trade war with several countries, including China and India, which imposed retaliatory tariffs on US goods. Besides an increase in average tariffs on Indian imports, the number of tariff lines subject to tariffs of 25% or more rose from …

Xi-Biden meet: Tariffs to Taiwan, what ails US-China ties as Trump looms
1 month, 1 week ago

Xi-Biden meet: Tariffs to Taiwan, what ails US-China ties as Trump looms

Al Jazeera  

Trump’s presidency could see escalating trade wars. Relations between China and the US, the world’s most important superpowers, had nosedived during Trump’s first term as president, when he started a trade war with Beijing, using punishing tariff rates. Here’s a picture of how the US-China relations soured under Biden – and what to expect under Trump 2.0: Trade wars Trump, …

Not just China, these US allies too could suffer the most by Donald Trump's tariffs
1 month, 1 week ago

Not just China, these US allies too could suffer the most by Donald Trump's tariffs

Hindustan Times  

President-elect Donald Trump has pledged to levy tariffs on imported goods as part of his second-term economic strategy. During his election campaign, Trump promised to employ tariffs to promote American companies, imposing up to 60 percent levies on Chinese goods and up to 20 percent on imports from other nations. Europe would be severely affected if… Speaking to Newsweek Dr. …

India’s trade deficit with China soars during April-October despite import curbs
Trending News
1 month, 1 week ago

India’s trade deficit with China soars during April-October despite import curbs

Live Mint  

New Delhi: India’s merchandise trade deficit with China has risen 13% during the first seven months of the current fiscal year, despite government measures aimed at cutting reliance on the Asian manufacturing major and restrictions on import of certain products from the country. India's goods trade deficit with China widened to $57.83 billion during April-October from $51.12 billion a year …

China coped with Trump’s first trade war. A second one will be tougher.
Trending News
1 month, 1 week ago

China coped with Trump’s first trade war. A second one will be tougher.

Live Mint  

SINGAPORE—The last thing Xi Jinping needs right now is another showdown with Donald Trump over trade. If the U.S. cuts back on some of the $430 billion in goods it imports from China each year, Chinese companies could try sending them to other countries, a strategy Beijing followed successfully after Trump first hit Chinese goods with tariffs in 2018. Some …

India imports more from China, exports less during Apr-Oct 2024: Govt data
Trending News
1 month, 1 week ago

India imports more from China, exports less during Apr-Oct 2024: Govt data

Firstpost  

During the period, the top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed China was India’s top import source with $65.89 billion, a 9.8 per cent year-on-year increase, worth of inbound shipments during the April-October period of this fiscal, according to the commerce ministry data. …

Opportunities abound for China, US to expand agricultural trade, exec says
1 month, 1 week ago

Opportunities abound for China, US to expand agricultural trade, exec says

China Daily  

China is likely to import 30 million metric tons of soybeans from the United States during the 2025 marketing year — from Sept 1,2024, to Aug 31, 2025 — and the two countries have ample opportunities to expand agricultural cooperation, said a senior executive of the US Soybean Export Council. China's total soybean imports, including those from the US, are …

Opportunities abound for China, US to expand agricultural trade, exec says
1 month, 1 week ago

Opportunities abound for China, US to expand agricultural trade, exec says

China Daily  

China is likely to import 30 million metric tons of soybeans from the United States during the 2025 marketing year — from Sept 1,2024, to Aug 31, 2025 — and the two countries have ample opportunities to expand agricultural cooperation, said a senior executive of the US Soybean Export Council. China's total soybean imports, including those from the US, are …

Will India be a winner or loser when Trump unleashes trade war?
1 month, 1 week ago

Will India be a winner or loser when Trump unleashes trade war?

New Indian Express  

One need not even look that far to determine who actually benefits from trade wars. As for India, the incoming US administration under Trump may choose to intensify trade frictions and if the proposed 10%-20% tariff hikes are indeed imposed, it'll adversely affect us, potentially altering the balance of trade, which remains in India’s favour with a surplus of $35.3 …

The world faces its worst trade wars since the 1930s
1 month, 1 week ago

The world faces its worst trade wars since the 1930s

Hindustan Times  

THE WORLD stands on the brink of multiple trade wars. The same hawks then predict that new tariffs will raise “artificially low prices” for Chinese goods, thereby creating economic incentives large enough to alter trade flows, helping domestic firms to employ more Americans. When it comes to strategic goods and technologies from China, Mr Trump can raise some tariffs on …

Trump’s win boosts confidence in US economy; Emerging markets concerned over strengthening dollar — expert advice
1 month, 1 week ago

Trump’s win boosts confidence in US economy; Emerging markets concerned over strengthening dollar — expert advice

Live Mint  

The Indian stock market was taking a beating in the last month,with funds reportedly shifting to other countries such as China and Japan. ‘Trumpononics’ policy This week, the stronger-than-expected mandate win for Trump has boosted the global equity market. Generally, today the US stock market is in a boom in anticipation of tax cuts and high government spending. The world …

China anxious as Trump victory may intensify trade wars
Trending News
1 month, 2 weeks ago

China anxious as Trump victory may intensify trade wars

Firstpost  

China’s ambassador to the US, Xie Feng said that the differences between the two nations should be the driving force for exchanges and mutual learning rather than ‘an excuse for rejection and confrontation’, and that the successes of each were opportunities for the other There are no winners in tariff or trade wars, nor in wars over science and technology …

US soybean trade with China already strained before Trump’s return -Braun
1 month, 2 weeks ago

US soybean trade with China already strained before Trump’s return -Braun

Live Mint  

By Karen Braun NERVILLE, Illinois, - Uncertainty increased for U.S. soybean exporters this week with Donald Trump's election win, since shipments to top customer China were severely curbed when a trade war began during Trump’s first presidency. However, U.S. soybean trade to China was already going poorly prior to Tuesday’s election, and some of the latest statistics are the most …

Foreign trade poised for steady growth amid headwinds
Top News
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Trump's potential return sparks concerns over Indo-US trade ties, tariffs
Trending News
1 month, 2 weeks ago

Trump's potential return sparks concerns over Indo-US trade ties, tariffs

New Indian Express  

Donald Trump’s return as the 47th president of the US will likely put Indo-US trade ties under sharp focus. Trump has promised a fresh wave of tariffs under his ‘America first’ stance, which may adversely affect countries like India and its key sectors such IT, pharmaceuticals, textiles, chemicals and automotive parts. He even proposed import duty increases of 10-20 percent …

Foreign trade poised for steady growth amid headwinds
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Foreign trade poised for steady growth amid headwinds
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

By Zhong Nan and Ouyang Shijia in Shanghai | China Daily | Updated: 2024-11-08 07:09 China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers …

Foreign trade poised for steady growth amid headwinds
Trending News
1 month, 2 weeks ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period, while its exports rose 6.7 …

China's foreign trade up 5.2% in Jan-Oct period
1 month, 2 weeks ago

China's foreign trade up 5.2% in Jan-Oct period

China Daily  

China's foreign trade expanded 5.2 percent year-on-year to 36.02 trillion yuan in the January-October period of 2024, statistics from the General Administration of Customs showed on Thursday. Exports rose 6.7 percent yearly to 20.8 trillion yuan, while imports climbed 3.2 percent year-on-year to 15.22 trillion yuan during this period, customs data showed. The import and export value of China's private …

China records highest export growth in 2 years amid looming Trump’s 60% tariff threat
Trending News
1 month, 2 weeks ago

China records highest export growth in 2 years amid looming Trump’s 60% tariff threat

Firstpost  

Exports far surpassed analyst’s estimates of about 5.5 per cent growth and outpaced September’s growth of just 2.4 per cent. China’s exports rose 12.7 per cent in October from a year earlier, the fastest monthly growth in more than two years, according to customs data released Thursday. It showed imports fell 2.3 per cent in October from a year earlier, …

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