https://hk.news.yahoo.com/2005-年以來首次-中國不再是美國最大貿易夥伴-053116658.html
2005年以來首次 中國不再是美國最大貿易夥伴
on.cc 東網
15.5k 人追蹤
2019年8月3日 下午1:31
2005年以來首次 中國不再是美國最大貿易夥伴 (Getty Images)
美國總統特朗普周四（1日）宣布對餘下3000億美元（約2.34萬億港元）的中國進口貨品加徵10%關稅後，商務部翌日公布數據顯示，美國6月份進出口減少，貿易逆差輕微縮窄。由於貿易摩擦持續，中國不再是美國最大的貿易夥伴，是自2005年以來首次。
美國6月份的商品和服務貿易逆差下降0.3%至552億美元（約4306億港元），跌幅小於預計的546億美元（約4259億港元）。美國對中國的商品貿易逆差亦減少0.8%至300億美元（約2340億港元），主要原因是從中國的進口下降0.7%，出口則沒有變化。
與去年同期相比，美國本年上半年從中國進口減少12%，出口則下降19%，中美貿易總額縮至2710.4億美元（約2.11萬億港元），是自2005年以來首次低於美國與加拿大，以及美國與墨西哥的貿易額，墨西哥因此成為美國最大的貿易夥伴。此外，美國從越南的進口大增33%，從日本、南韓、墨西哥和歐洲的購買量有所上升。
美國首半年的貿易赤字增加7.9%至3163.3億美元（約2.47萬億港元），進口額年增1.5%至1.568萬億美元（約12.2萬億港元）。美中關係全國委員會理事鄧錦明（Nelson Dong）認為，如果中國採取反制措施，將進一步影響美國出口商。他認為，中國採取的報復措施將切斷美國農業領域的供應商在中國收復失去市場的機會。
https://hk.news.yahoo.com/2005-%E5%B9%B4%E4%BB%A5%E4%BE%86%E9%A6%96%E6%AC%A1-%E4%B8% AD%E5%9C%8B%E4%B8%8D%E5%86%8D%E6%98%AF%E7%BE%8E%E5%9C%8B%E6%9C%80%E5%A4%A7% E8%B2%BF%E6%98%93%E5%A4%A5%E4%BC%B4-053116658.html
For the first time since 2005, China is no longer the largest trading partner of the United States.
[on.cc east net]
On.cc East Net
15.5k person tracking
August 3, 2019 1:31 PM
For the first time since 2005, China is no longer the largest trading partner of the United States (Getty Images)
For the first time since 2005, China is no longer the largest trading partner of the United States (Getty Images)
US President Trump announced on Thursday that the Ministry of Commerce announced a 10% tariff on the remaining US$300 billion (about 2.34 trillion Hong Kong dollars) of Chinese imports, the US government announced on the next day that the US imports and exports decreased in June, trade The deficit is slightly narrowed. As trade frictions continue, China is no longer the largest trading partner of the United States, and it is the first time since 2005.
The US trade deficit in goods and services fell by 0.3% to US$55.2 billion (approximately HK$430.6 billion) in June, a decline of less than the estimated US$54.6 billion (approximately HK$425.9 billion). The US trade deficit with China also fell by 0.8% to US$30 billion (about HK$234 billion), mainly due to a 0.7% drop in imports from China and no change in exports.
Compared with the same period of last year, the United States reduced imports from China by 12% in the first half of this year, while exports fell by 19%. Sino-US trade volume shrank to US$271.04 billion (about HK$2.11 trillion), the first time since 2005 that it was lower than the United States. With Canada, as well as the United States and Mexico, Mexico has become the largest trading partner of the United States. In addition, US imports from Vietnam increased by 33%, and purchases from Japan, South Korea, Mexico and Europe increased.
The US trade deficit in the first half of the year increased by 7.9% to US$316.33 billion (approximately HK$2.47 trillion), and imports increased 1.5% year-on-year to US$1.568 trillion (approximately HK$12.2 trillion). Nelson Dong, a member of the National Committee on US-China Relations, believes that if China takes countermeasures, it will further affect US exporters. He believes that the retaliatory measures taken by China will cut off the opportunities for suppliers in the US agricultural sector to regain lost market in China.
https://news.google.com/articles/CA...w1tzJATDnyxUwmK20AQ?hl=en-SG&gl=SG&ceid=SG:en
Tariff Fight Knocks Off China as Top U.S. Trading Partner
Data released Friday showed that Mexico was the top trading partner for the first half of the year, followed by Canada
A woman works on the production line of a factory under Tianjin Wanda Tyre Group, which exports its products to countries including the U.S. Overall U.S. imports from China fell 12% in the first six months of 2019. Photo: jason lee/Reuters
By
Paul Kiernan and
Anthony DeBarros
Updated Aug. 2, 2019 6:14 pm ET
WASHINGTON—The standoff between Washington and Beijing has cost China its position as the U.S.’s top trading partner, a shift that could accelerate as President Trump moves to ratchet up tariffs even more.
Data released Friday showed that Mexico was the top trading partner for the first half of the year, followed by Canada. Imports from China dropped by 12%, and U.S. exports to China fell 19%, as tit-for-tat tariffs and other barriers imposed by Washington and Beijing took their toll.
Imports ShufflePercentage change in import dollars for thetop 20 importers to the U.S, first six months2019 vs. first six months 2018Source: Census Bureau
“These are double-digit declines after over 30 years of steady and very substantial growth,” said C. Fred Bergsten, a founding director of the Peterson Institute for International Economics. “It has a much broader connotation and implication than just economics, serious as that is.”
Stocks swooned for a second day Friday, as Beijing vowed to retaliate if Mr. Trump makes good on his threat from a day earlier to impose 10% tariffs Sept. 1 on $300 billion in Chinese goods that are currently not subject to levies. The Dow Jones Industrial Average closed down 0.4%.
China DipsDecreased import and export activity hasdropped China to third among the U.S.'s tradepartners.Share of total trade with the U.S.Source: Census BureauNote: 2019 data through June
%MexicoCanadaChinaJapan
With expectations dimming for a deal with China, the White House is turning its attention to other fronts.
U.S. and Japanese officials met Thursday to discuss an agreement to increase U.S. farm exports. And on Friday, Mr. Trump touted a deal that he said would increase duty-free U.S. beef exports to the European Union by 46% from their current level of $150 million.
“The agreement we sign today will lower trade barriers in Europe and expand access for American farmers and ranchers,” Mr. Trump said.
Those farmers and ranchers have borne the brunt of Mr. Trump’s campaign to force China to level the playing field for U.S. businesses, as Beijing has retaliated by curbing purchases of U.S. soybeans, corn, pork and other products.
But the anticipated boost from that deal pales in comparison to U.S. trade with China.
According to a Commerce Department report Friday, the total value of bilateral goods exchanged with China fell 14% in the first half of the year to $271.04 billion.
After holding the top spot among U.S. trading partners from 2015 to 2018, China now sits at No. 3, and is now smaller than Mexico for the first time since 2005.
The tariff dispute, along with cooling global economic growth, has contributed to a stagnation in total U.S. exports to the world and a widening of the trade deficit.
Some administration officials view tariffs as a short-term negotiating tool, though many corporate executives are beginning to hunker down for a protracted dispute. Mr. Trump and his aides say the fact that China sells more to the U.S. than vice versa gives them leverage in discussions.
“If they don’t want to trade with us anymore, that would be fine with me,” the president said Thursday. “We’d save a lot of money.”
Many economists dispute Mr. Trump’s view that trade deficits are inherently bad, saying they simply reflect contrasting conditions in open economies. However, a widening gap does subtract from U.S. economic growth, and trade has weighed on U.S. gross domestic product in three of the past four quarters.
The U.S. economy has nonetheless expanded faster than other advanced economies this year and last, while global growth has cooled. This has boosted U.S. appetite for imports and depressed foreigners’ demand for U.S. exports.
Exports to ChinaChina sharply reduced purchases from theU.S. following the imposition of tariffs in2018.U.S. exports to China, change from a yearearlierSource: Census Bureau
%
Imports to the U.S. rose 1.5% in the January-to-June period from a year earlier, to $1.568 trillion.
Exports, meanwhile, were virtually flat in the first half of the year at $1.252 trillion. Excluding services, shipments of goods produced by American farmers and manufacturers fell, as China reduced purchases from the U.S. while other economies slowed.
Those trends illustrate an 83-year-old economic principle that says tariffs on imports ultimately end up acting as a tax on exports. The upshot: America’s overall trade gap widened 7.9% in the first half of 2019 from a year earlier, to $316.33 billion, despite tariffs aimed at narrowing it.
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Declining imports from China have been more than offset by growth in purchases from other countries. U.S. imports from Vietnam, which attracted low-wage manufacturing from China even before Mr. Trump’s tariffs, surged 33% in the first half of the year. U.S. purchases from Japan, South Korea, Mexico and Europe also rose in the period.
As a result, China’s share of the U.S. market is on pace to fall to its lowest level since 2008. The East Asian nation accounted for 13.2% of total trade in goods—imports plus exports—in the first half of 2019, Friday’s data show, behind Mexico with 15% and Canada at 14.9%.
“What’s happening is what I call inefficient reallocation,” said David Dollar, an economist at the Brookings Institution who focuses on China. “Some value chains are reorganizing in response to the tariffs, and it’s inefficient because the status quo ante was what firms were choosing to do.”
Related Articles
Apparel company Ralph Lauren Corp. , for example, ramped up its North American inventory faster than its sales were growing in the latest quarter “to get ahead of potential China tariffs,” Chief Financial Officer Jane Hamilton Nielsen told investors in a conference call this week.
“In light of the dynamic trade environment, particularly China and Brexit, we’ll continue to opportunistically evaluate our inventory shipments to North America and the U.K. and diversify our global supply chain,” Ms. Nielsen said.
Many economists also dispute Mr. Trump’s frequent claim that the U.S. makes money by taxing imports, saying the ultimate cost of tariffs are borne by American companies and consumers.
General Electric Co. estimates the China tariffs will reduce its operating profit by $400 million to $500 million this year.
Archer Daniels Midland Co. has signaled it could have trouble matching last year’s profit if China doesn’t resume its purchases of U.S. agricultural products.
“If we don’t see a resumption of significant agricultural trade with China, particularly ethanol, well before the end of the third quarter, it would be difficult to achieve adjusted earnings per share in 2019 similar to 2018,” Chief Financial Officer Ray Young said in a call Thursday.
2005年以來首次 中國不再是美國最大貿易夥伴
on.cc 東網
15.5k 人追蹤
2019年8月3日 下午1:31
2005年以來首次 中國不再是美國最大貿易夥伴 (Getty Images)
美國總統特朗普周四（1日）宣布對餘下3000億美元（約2.34萬億港元）的中國進口貨品加徵10%關稅後，商務部翌日公布數據顯示，美國6月份進出口減少，貿易逆差輕微縮窄。由於貿易摩擦持續，中國不再是美國最大的貿易夥伴，是自2005年以來首次。
美國6月份的商品和服務貿易逆差下降0.3%至552億美元（約4306億港元），跌幅小於預計的546億美元（約4259億港元）。美國對中國的商品貿易逆差亦減少0.8%至300億美元（約2340億港元），主要原因是從中國的進口下降0.7%，出口則沒有變化。
與去年同期相比，美國本年上半年從中國進口減少12%，出口則下降19%，中美貿易總額縮至2710.4億美元（約2.11萬億港元），是自2005年以來首次低於美國與加拿大，以及美國與墨西哥的貿易額，墨西哥因此成為美國最大的貿易夥伴。此外，美國從越南的進口大增33%，從日本、南韓、墨西哥和歐洲的購買量有所上升。
美國首半年的貿易赤字增加7.9%至3163.3億美元（約2.47萬億港元），進口額年增1.5%至1.568萬億美元（約12.2萬億港元）。美中關係全國委員會理事鄧錦明（Nelson Dong）認為，如果中國採取反制措施，將進一步影響美國出口商。他認為，中國採取的報復措施將切斷美國農業領域的供應商在中國收復失去市場的機會。
https://hk.news.yahoo.com/2005-%E5%B9%B4%E4%BB%A5%E4%BE%86%E9%A6%96%E6%AC%A1-%E4%B8% AD%E5%9C%8B%E4%B8%8D%E5%86%8D%E6%98%AF%E7%BE%8E%E5%9C%8B%E6%9C%80%E5%A4%A7% E8%B2%BF%E6%98%93%E5%A4%A5%E4%BC%B4-053116658.html
For the first time since 2005, China is no longer the largest trading partner of the United States.
[on.cc east net]
On.cc East Net
15.5k person tracking
August 3, 2019 1:31 PM
For the first time since 2005, China is no longer the largest trading partner of the United States (Getty Images)
For the first time since 2005, China is no longer the largest trading partner of the United States (Getty Images)
US President Trump announced on Thursday that the Ministry of Commerce announced a 10% tariff on the remaining US$300 billion (about 2.34 trillion Hong Kong dollars) of Chinese imports, the US government announced on the next day that the US imports and exports decreased in June, trade The deficit is slightly narrowed. As trade frictions continue, China is no longer the largest trading partner of the United States, and it is the first time since 2005.
The US trade deficit in goods and services fell by 0.3% to US$55.2 billion (approximately HK$430.6 billion) in June, a decline of less than the estimated US$54.6 billion (approximately HK$425.9 billion). The US trade deficit with China also fell by 0.8% to US$30 billion (about HK$234 billion), mainly due to a 0.7% drop in imports from China and no change in exports.
Compared with the same period of last year, the United States reduced imports from China by 12% in the first half of this year, while exports fell by 19%. Sino-US trade volume shrank to US$271.04 billion (about HK$2.11 trillion), the first time since 2005 that it was lower than the United States. With Canada, as well as the United States and Mexico, Mexico has become the largest trading partner of the United States. In addition, US imports from Vietnam increased by 33%, and purchases from Japan, South Korea, Mexico and Europe increased.
The US trade deficit in the first half of the year increased by 7.9% to US$316.33 billion (approximately HK$2.47 trillion), and imports increased 1.5% year-on-year to US$1.568 trillion (approximately HK$12.2 trillion). Nelson Dong, a member of the National Committee on US-China Relations, believes that if China takes countermeasures, it will further affect US exporters. He believes that the retaliatory measures taken by China will cut off the opportunities for suppliers in the US agricultural sector to regain lost market in China.
https://news.google.com/articles/CA...w1tzJATDnyxUwmK20AQ?hl=en-SG&gl=SG&ceid=SG:en
Tariff Fight Knocks Off China as Top U.S. Trading Partner
Data released Friday showed that Mexico was the top trading partner for the first half of the year, followed by Canada
A woman works on the production line of a factory under Tianjin Wanda Tyre Group, which exports its products to countries including the U.S. Overall U.S. imports from China fell 12% in the first six months of 2019. Photo: jason lee/Reuters
By
Paul Kiernan and
Anthony DeBarros
Updated Aug. 2, 2019 6:14 pm ET
WASHINGTON—The standoff between Washington and Beijing has cost China its position as the U.S.’s top trading partner, a shift that could accelerate as President Trump moves to ratchet up tariffs even more.
Data released Friday showed that Mexico was the top trading partner for the first half of the year, followed by Canada. Imports from China dropped by 12%, and U.S. exports to China fell 19%, as tit-for-tat tariffs and other barriers imposed by Washington and Beijing took their toll.
Imports ShufflePercentage change in import dollars for thetop 20 importers to the U.S, first six months2019 vs. first six months 2018Source: Census Bureau
“These are double-digit declines after over 30 years of steady and very substantial growth,” said C. Fred Bergsten, a founding director of the Peterson Institute for International Economics. “It has a much broader connotation and implication than just economics, serious as that is.”
Stocks swooned for a second day Friday, as Beijing vowed to retaliate if Mr. Trump makes good on his threat from a day earlier to impose 10% tariffs Sept. 1 on $300 billion in Chinese goods that are currently not subject to levies. The Dow Jones Industrial Average closed down 0.4%.
China DipsDecreased import and export activity hasdropped China to third among the U.S.'s tradepartners.Share of total trade with the U.S.Source: Census BureauNote: 2019 data through June
%MexicoCanadaChinaJapan
With expectations dimming for a deal with China, the White House is turning its attention to other fronts.
U.S. and Japanese officials met Thursday to discuss an agreement to increase U.S. farm exports. And on Friday, Mr. Trump touted a deal that he said would increase duty-free U.S. beef exports to the European Union by 46% from their current level of $150 million.
“The agreement we sign today will lower trade barriers in Europe and expand access for American farmers and ranchers,” Mr. Trump said.
Those farmers and ranchers have borne the brunt of Mr. Trump’s campaign to force China to level the playing field for U.S. businesses, as Beijing has retaliated by curbing purchases of U.S. soybeans, corn, pork and other products.
But the anticipated boost from that deal pales in comparison to U.S. trade with China.
According to a Commerce Department report Friday, the total value of bilateral goods exchanged with China fell 14% in the first half of the year to $271.04 billion.
After holding the top spot among U.S. trading partners from 2015 to 2018, China now sits at No. 3, and is now smaller than Mexico for the first time since 2005.
The tariff dispute, along with cooling global economic growth, has contributed to a stagnation in total U.S. exports to the world and a widening of the trade deficit.
Some administration officials view tariffs as a short-term negotiating tool, though many corporate executives are beginning to hunker down for a protracted dispute. Mr. Trump and his aides say the fact that China sells more to the U.S. than vice versa gives them leverage in discussions.
“If they don’t want to trade with us anymore, that would be fine with me,” the president said Thursday. “We’d save a lot of money.”
Many economists dispute Mr. Trump’s view that trade deficits are inherently bad, saying they simply reflect contrasting conditions in open economies. However, a widening gap does subtract from U.S. economic growth, and trade has weighed on U.S. gross domestic product in three of the past four quarters.
The U.S. economy has nonetheless expanded faster than other advanced economies this year and last, while global growth has cooled. This has boosted U.S. appetite for imports and depressed foreigners’ demand for U.S. exports.
Exports to ChinaChina sharply reduced purchases from theU.S. following the imposition of tariffs in2018.U.S. exports to China, change from a yearearlierSource: Census Bureau
%
Imports to the U.S. rose 1.5% in the January-to-June period from a year earlier, to $1.568 trillion.
Exports, meanwhile, were virtually flat in the first half of the year at $1.252 trillion. Excluding services, shipments of goods produced by American farmers and manufacturers fell, as China reduced purchases from the U.S. while other economies slowed.
Those trends illustrate an 83-year-old economic principle that says tariffs on imports ultimately end up acting as a tax on exports. The upshot: America’s overall trade gap widened 7.9% in the first half of 2019 from a year earlier, to $316.33 billion, despite tariffs aimed at narrowing it.
Related Video
You may also like
0:00 / 4:27
When ‘Made in Vietnam’ Products Are Actually From China
Some Chinese manufacturers are dodging U.S. tariffs by rerouting goods to Vietnam and other countries. Here’s a look at why transshipment is on the rise, and how U.S. customs officials are struggling to stamp out the practice. Video and Photo composite: Crystal Tai
Declining imports from China have been more than offset by growth in purchases from other countries. U.S. imports from Vietnam, which attracted low-wage manufacturing from China even before Mr. Trump’s tariffs, surged 33% in the first half of the year. U.S. purchases from Japan, South Korea, Mexico and Europe also rose in the period.
As a result, China’s share of the U.S. market is on pace to fall to its lowest level since 2008. The East Asian nation accounted for 13.2% of total trade in goods—imports plus exports—in the first half of 2019, Friday’s data show, behind Mexico with 15% and Canada at 14.9%.
“What’s happening is what I call inefficient reallocation,” said David Dollar, an economist at the Brookings Institution who focuses on China. “Some value chains are reorganizing in response to the tariffs, and it’s inefficient because the status quo ante was what firms were choosing to do.”
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- Heard on the Street: Trump, China and the Fed
- Trump’s China Tariff Threat Roils Markets Around the World
- Chinese Yuan Skids to 2019 Low as Trump Ramps Up Trade Conflict
- Japan Ratchets Up Trade Dispute With South Korea
Apparel company Ralph Lauren Corp. , for example, ramped up its North American inventory faster than its sales were growing in the latest quarter “to get ahead of potential China tariffs,” Chief Financial Officer Jane Hamilton Nielsen told investors in a conference call this week.
“In light of the dynamic trade environment, particularly China and Brexit, we’ll continue to opportunistically evaluate our inventory shipments to North America and the U.K. and diversify our global supply chain,” Ms. Nielsen said.
Many economists also dispute Mr. Trump’s frequent claim that the U.S. makes money by taxing imports, saying the ultimate cost of tariffs are borne by American companies and consumers.
General Electric Co. estimates the China tariffs will reduce its operating profit by $400 million to $500 million this year.
Archer Daniels Midland Co. has signaled it could have trouble matching last year’s profit if China doesn’t resume its purchases of U.S. agricultural products.
“If we don’t see a resumption of significant agricultural trade with China, particularly ethanol, well before the end of the third quarter, it would be difficult to achieve adjusted earnings per share in 2019 similar to 2018,” Chief Financial Officer Ray Young said in a call Thursday.
