Home>News Center>Bizchina

Sino-US trade surges despite disputes
Updated: 2004-04-13 09:31

Trade between China and the United States surged nearly 40 percent year-on-year in the first two months despite of various disputes. Chinese expert predicted a rapid growth in the rest of the year.

In the January-February period, China imported US$7.2 billion worth of US goods, ranging from machinery and electronic facilities, chemical to agricultural products.

China's exports amounted to US$14.6 billion, involving machinery and electronic products, furniture, toys, garment, shoes and basic metals, according to statistics from Chinese Customs.

The structure of imports and exports indicated the mutual benefits between the trade of the two countries: China, with a soaring economy, needs US advanced technology and products, while for US consumers, products made in China as TV sets and shoes were cheap and of good quality.

However, the low cost, a cutting-edge advantage of Chinese products based on relatively cheap labor price, was under fire in some major news media in the United States.

Besides, new problems are emerging such as the China's taxes on chips, which was alleged by the United States as discrimination on foreign manufactures.

The US side has asked for consultation with China on that issue under the World Trade Organization mechanism in March. The European Union and Japan also asked to join the consultation at the end of the month.

  Story Tools  
  Related Stories  
China posts $8.43b trade deficit in 1st quarter
Foreign trade law wins warm welcome