China's trade with BRI countries stays robust in H1

China says US trade issues are'definitely resolvable

Globally, China's exports fell 1.3 percent in June from the same period a year ago, while imports dived 7.3 percent, according to official data from the customs administration.

The data showed that the US-China trade war had an impact on China's economy. Mistrust between Washington and Beijing runs high.

U.S. -Chinese trade has weakened since President Donald Trump started hiked tariffs past year on goods from China in a fight over Beijing's technology ambitions. China retaliated with penalty duties and ordered importers to find non-U.S. suppliers.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke on the phone with their Chinese counterparts this week, marking the first high-level contact following the G-20 meeting. Both sides will continue these talks as appropriate, the official said, without offering more details on the next steps.

A steady performance of the domestic economy could provide Beijing with fresh confidence to take a harder stance in talks with Washington, as it would indicate the U.S. tariffs and the acceleration of the relocation of manufacturing from China to Southeast Asian countries has not derailed growth.

"Our base case remains that trade talks will break down again before long", said Julian Evans-Pritchard of Capital Economics in a report.

Washington is pressing Beijing to roll back plans for government-led creation of Chinese global competitors in robotics, electric cars and other technologies.

Trade weakness has added to pressure on Xi's government to shore up economic growth and avoid politically unsafe job losses.

Trump complained Thursday that China hasn't boosted its purchases of USA farm products, a promise he claims he secured in a meeting with his counterpart Xi Jinping in June.

The chairman of Huawei said Friday that his company has yet to see any benefit from Trump's promise to ease restrictions on sales of components to the Chinese tech giant, which was put on a US national security blacklist in May.

"So far we haven't seen any tangible change", chairman Liang Hua told a news conference.

On Thursday (July 11), Trump accused China of "letting us down" by not promptly buying more U.S. farm products. On Thursday Trump raised eyebrows with a tweet accusing China of not fulfilling a pledge to buy more agricultural goods, adding: "Hopefully they will start soon!"

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