Associated Press Containers are piled up at a port in Qingdao in east China's Shandong province. China's imports from the United States plunged 31.4% in June from a year earlier amid a tariff war with Washington.
Saturday, July 13, 2019 1:00 am
US goods going to China plummet 31.4%
JOE McDONALD | Associated Press
Huawei boss: No help yet after Trump vow
SHENZHEN, China – The chairman of Huawei said Friday the Chinese tech giant has yet to see any benefit from President Donald Trump's promise to allow U.S. companies to sell some components to the company and called on Washington to remove it from a security blacklist.
The “unjust and unfair” decision to add Huawei Technologies Ltd., the biggest maker of network equipment for phone companies, to a list that restricts exports is hurting its U.S. suppliers and global customers, Liang Hua told a news conference.
American officials accuse Huawei of facilitating Chinese spying, a charge the company denies, and see it as a growing competitor to U.S. technology industries. Its founder, Ren Zhengfei, said in June the company has cut sales forecasts by $30 billion over the next two years due to curbs on access to U.S. chips and other components.
– Associated Press
BEIJING – China's trade with the United States plunged last month as a tariff war battered exporters on both sides of the Pacific Ocean.
And there's no letup in sight: Tensions between the world's two biggest economies continue to simmer even though President Donald Trump and his Chinese counterpart, Xi Jinping, called a ceasefire two weeks ago.
Data out Friday showed that the hostilities are taking a toll.
Chinese imports of U.S. goods fell 31.4% from a year earlier to $9.4 billion, while exports to the American market declined 7.8% to $39.3 billion, according to Chinese customs data. China's trade surplus with the United States widened by 3% to $29.9 billion.
The two countries are fighting over U.S. allegations that China deploys predatory tactics in a headlong drive to challenge American technological dominance.
The U.S. has imposed tariffs on $250 billion in Chinese imports, drawing retaliatory sanctions from Beijing on $110 billion in U.S. products. China also directed importers to find non-U.S. suppliers.
The dispute won't be easy to solve.
Mistrust between Washington and Beijing runs high. And a substantive solution likely would require China to scale back its ambitions to become a world leader in advanced technologies such as artificial intelligence and electric cars.