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President of China, Xi Jinping, during a meeting with State Secretary Mike Pompeo at the Great Hall of the People in Beijing in June. (Fred Dufour / Pool Photo via AP)
Until now, China's trade with the United States knows no bounds. In fact, the United States is facing a record deficit with the Chinese. Companies, meanwhile, are going back and forth like crazy to avoid deadlines of tariffs, and the US economy is so hot that even the The New York Times He admitted this week that there were at least three reasons for optimism.
The trade war between Trump and Xi Jinping did not hurt China's trade economy, based on recent trade data for August and the first week of September. Total commercial activity grew by 12.9% year-on-year in August, compared to 12.5% in July. This marked the 22nd month of growth, said analysts Panjiva this week.
This is not because of a weaker yuan.
In dollar terms, total trade grew 14.3 percent, including an export expansion of 9.8 percent, which exceeded market expectations by 7.8 percent, according to S & P Global Market Intelligence.
At the product level, semiconductors remained the main driver of growth, although the increase of 15.8% was lower than the 29.0% recorded in the previous three quarters. Consumer staples declined, with clothing exports up 1.0% and shoes up 1.5%. Toys from China began to recover, up 3.8 percent after a slow start to the Christmas holiday season, which is only three months away.
US tariffs also had a mixed effect on steel and aluminum exports. Both were significantly higher at 10% for steel and 32% for aluminum despite the obligations imposed earlier in the year. All of this did not come from China.
PC components, one of the largest Chinese-made products in the Trump administration's new $ 200 billion list, showed signs of slowing but still rose 6.7 percent Chinese customs.
Overall trade between China and the United States rose 18.4% after an increase of 11.3% in July. Trade is up! The trade deficit with China is also. Expansion of exports has meant China's trade surplus with the United States reached a record $ 31 billion in August and now stands at $ 301 billion.
The largest component of trade between the two countries was that Chinese exports were double-digit while multinationals worried that Trump's new $ 200 billion tariffs would continue to ship orders before the scheduled date. .
The schedule of the new series of mega-fares remains a mystery. Normally, the Trump Administration announces that it is studying new rates and respects the date on which it will make its decision. Once a decision is made, it usually takes a month to be formalized. The government is seeking input from industry and industry representatives who will be affected by the new requirements.
President Trump reiterated his commitment to quickly implement them and threatened to expand the list to all exports if China retaliated. This should come as no surprise, as Trump warned against pricing all Chinese imports since the executive took power.
"Business data will only make the determination of the administration tougher," says Chris Rogers, Trade and Logistics Manager at Panjiva Research.
Tim Cook, Apple's CEO, leaves the scene at the Apple Worldwide Developers Conference in San Jose. Investors started the week fearing that China will make life difficult for Apple. Shares of the company started Monday in the red. Photographer: David Paul Morris / Bloomberg
Apple Vs. Asset
Investors began the week worried that Trump's latest threat against China meant for at least one technology leader – Apple.
Apple has joined other technology-importing companies to raise concerns over a new round of tariffs of 25 percent this month. The latest tariff threat could materialize anytime after the end of the marketplace consultations last week. The company said its AppleWatch and Mac-mini could be affected and lobbied Washington to convince the Trump team that their circumvention of consumer goods during this trade war could ultimately fail if China reacts to the $ 200 billion dollars currently on the table. Apple said it would probably mean higher costs for the electronic components used by US technology companies. President Trump's response via Twitter was that Apple would be wise to build these components at home.
Electronics and electrical equipment imported by Apple and others are at the heart of the Trump administration's new target, with $ 23.3 billion in equipment and peripherals for the computer network, $ 13.6 billion circuits and assemblies and 5.19 billion PCs.
"Apple's ability to support the highest rates as part of its existing supply chain structure will be part of its pricing power to consumers," says Rogers. "Failure to do this and lose competitiveness may mean that production will be transferred to other countries, and in the meantime, storage can be a short-term strategy to cope with the arrival of rights."
Apple is more concerned about Mac-mini products. Panjiva data show that imports of this type of PC from all manufacturers increased by 58.3% compared to the number of units shipped from China in July compared to last year. They have reached their highest export volumes since at least 2009. The 42.9% increase in dollars follows a 48.4% increase in the second quarter.
Many observers of the trade war think that we are in the early stages. A rise in the US stock market and a bear market in China could give Trump the impression of winning. There is still some game to play.
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President of China, Xi Jinping, during a meeting with State Secretary Mike Pompeo at the Great Hall of the People in Beijing in June. (Fred Dufour / Pool Photo via AP)
Until now, China's trade with the United States knows no bounds. In fact, the United States is facing a record deficit with the Chinese. Companies, meanwhile, are going back and forth like crazy to avoid deadlines of tariffs, and the US economy is so hot that even the The New York Times He admitted this week that there were at least three reasons for optimism.
The trade war between Trump and Xi Jinping did not hurt China's trade economy, based on recent trade data for August and the first week of September. Total commercial activity grew by 12.9% year-on-year in August, compared to 12.5% in July. This marked the 22nd month of growth, said analysts Panjiva this week.
This is not because of a weaker yuan.
In dollar terms, total trade grew 14.3 percent, including an export expansion of 9.8 percent, which exceeded market expectations by 7.8 percent, according to S & P Global Market Intelligence.
At the product level, semiconductors remained the main driver of growth, although the increase of 15.8% was lower than the 29.0% recorded in the previous three quarters. Consumer staples declined, with clothing exports up 1.0% and shoes up 1.5%. Toys from China began to recover, up 3.8 percent after a slow start to the Christmas holiday season, which is only three months away.
US tariffs also had a mixed effect on steel and aluminum exports. Both were significantly higher at 10% for steel and 32% for aluminum despite the obligations imposed earlier in the year. All of this did not come from China.
PC components, one of the largest Chinese-made products in the Trump administration's new $ 200 billion list, showed signs of slowing but still rose 6.7 percent Chinese customs.
Overall trade between China and the United States rose 18.4% after an increase of 11.3% in July. Trade is up! The trade deficit with China is also. Expansion of exports has meant China's trade surplus with the United States reached a record $ 31 billion in August and now stands at $ 301 billion.
The largest component of trade between the two countries was that Chinese exports were double-digit while multinationals worried that Trump's new $ 200 billion tariffs would continue to ship orders before the scheduled date. .
The schedule of the new series of mega-fares remains a mystery. Normally, the Trump Administration announces that it is studying new rates and respects the date on which it will make its decision. Once a decision is made, it usually takes a month to be formalized. The government is seeking input from industry and industry representatives who will be affected by the new requirements.
President Trump reiterated his commitment to quickly implement them and threatened to expand the list to all exports if China retaliated. This should come as no surprise, as Trump warned against pricing all Chinese imports since the executive took power.
"Business data will only make the determination of the administration tougher," says Chris Rogers, Trade and Logistics Manager at Panjiva Research.
Tim Cook, Apple's CEO, leaves the scene at the Apple Worldwide Developers Conference in San Jose. Investors started the week fearing that China will make life difficult for Apple. Shares of the company started Monday in the red. Photographer: David Paul Morris / Bloomberg
Apple Vs. Asset
Investors began the week worried that Trump's latest threat against China meant for at least one technology leader – Apple.
Apple has joined other technology-importing companies to raise concerns over a new round of tariffs of 25 percent this month. The latest tariff threat could materialize anytime after the end of the marketplace consultations last week. The company said its AppleWatch and Mac-mini could be affected and lobbied Washington to convince the Trump team that their circumvention of consumer goods during this trade war could ultimately fail if China reacts to the $ 200 billion dollars currently on the table. Apple said it would probably mean higher costs for the electronic components used by US technology companies. President Trump's response via Twitter was that Apple would be wise to build these components at home.
Electronics and electrical equipment imported by Apple and others are at the heart of the Trump administration's new target, with $ 23.3 billion in equipment and peripherals for the computer network, $ 13.6 billion circuits and assemblies and 5.19 billion PCs.
"Apple's ability to support the highest rates as part of its existing supply chain structure will be part of its pricing power to consumers," says Rogers. "Failure to do this and lose competitiveness may mean that production will be transferred to other countries, and in the meantime, storage can be a short-term strategy to cope with the arrival of rights."
Apple is more concerned about Mac-mini products. Panjiva data show that imports of this type of PC from all manufacturers increased by 58.3% compared to the number of units shipped from China in July compared to last year. They have reached their highest export volumes since at least 2009. The 42.9% increase in dollars follows a 48.4% increase in the second quarter.
Many observers of the trade war think that we are in the early stages. A rise in the US stock market and a bear market in China could give Trump the impression of winning. There is still some game to play.
