U.S. wins the trade battle news by Hebei Longsheng Metals and Minerals Co., Ltd.
| Bouncing beans and Tesla help U.S. win the February trade battle Trade negotiations between the U.S. and China are set to continue on Apr. 29. Those could lead to conclusions being reached by late May for signing by President Xi Jinping and President Donald Trump in early June. The Trump administration’s tariff-driven leverage was successful in reducing China’s net exports in February by $3.61 billion after U.S. imports from China fell 26.9% and its exports to China only declined 21.9%. The effect may prove temporary as U.S. exports were flattered by two significant increases in exports in February versus January. U.S. exports of soybeans increased $261 million sequentially in February to reach $733 million. Exports of electric vehicles improved by $319 million sequentially after Tesla suffered customs issues previously. Additionally, early trade data from China suggests that in March U.S. net exports fell $2.80 billion, reversing most of February’s net position. |
