[Text/Observer Network Qi Qian] On May 9, the General Administration of Customs announced that foreign trade continued to show a steady growth trend. From January to April, the total value of China's goods trade imports and exports reached 14.14 trillion yuan, an increase of 2.4%; in April alone, the total value of China's goods trade imports and exports was 3.84 trillion yuan, an increase of 5.6%.

American CNBC reported on the same day that in April, under the push of a sharp increase in exports to Southeast Asian countries, China's exports grew significantly, offsetting the impact of a substantial decline in exports to the US due to high tariffs.

The report mentioned that calculated in RMB, China's exports in April increased by 9.3% year-on-year, far exceeding Reuters' estimated increase of 1.9%. The import volume in April increased by 0.8% year-on-year, while economists expected a decrease of 5.9%.

Customs data showed that calculated in USD, China's exports to the US decreased by more than 21% year-on-year in April, and imports decreased by nearly 14%. However, in March, China's exports to the US increased by 9.1%, as exporters placed orders and stocked up before the tariff hike.

However, in April, China's exports to ASEAN increased by 20.8% year-on-year (calculated in USD), higher than 11.6% in March. Vietnam and Malaysia remained the main destinations for China's exports to ASEAN, but exports to Indonesia and Thailand increased by 37% and 28% year-on-year respectively. Additionally, China's exports to the EU increased by 8.3%.

LOS ANGELES PORT: IMPORT QUANTITY FROM CHINA CUT IN HALF - CNN VIDEO SCREENSHOT

After taking office, Trump triggered a global trade war, announcing a 145% tariff on imports from China. The "small exemption" policy targeting Hong Kong and mainland China expired on May 2. Chinese ships have also become a "thorn in the eye" for the Trump administration and will be subject to high fees. Recently, various industries in the United States have warned that tariff policies will severely impact the US economy and consumer lives.

Yang Yuting, Chief Economist of Greater China at ANZ Bank, said on April 8 that the number of container ships from China to the US dropped sharply at the end of April.

CNBC reported that all sectors across the US are increasingly concerned about the impact of tariffs spreading to the job market. Goldman Sachs estimates that the US may lose 16 million jobs related to the production of American goods, accounting for 2% of its workforce. The latest index shows that employment has fallen comprehensively last month due to manufacturers halting production and putting workers on paid leave.

On May 6, Gene Seroka, Executive Director of the Port of Los Angeles, told CNN in an interview that this week, freight volumes at the Port of Los Angeles were down about 35% compared to the same time last year. These cargo ships were the first to arrive at the Port of Los Angeles after Trump announced "reciprocal tariffs."

Seroka also said that the freight volume of these incoming cargo ships dropped significantly, with the quantity of imports from China falling by more than 50%. He warned: "Many retailers and importers in the US have told me that the prices of these products are now about two and a half times higher than last month."

On the 7th, Ryan Calkins, Director of the Port of Seattle, told CNN that there were "no container ships docked" that day. Calkins said: "This happens occasionally, but it is very rare. I think tonight's situation is a clear reminder that the impact of tariffs is real."

In response, Axios cited analysis indicating that Trump's tariff policies have caused freight volumes at key US shipping hubs to slow down and may lead to an economic recession and disruption of supply chains in the US, ultimately affecting domestic transportation and warehousing in the US, employment, and the price and supply of goods on shelves.

Meanwhile, Americans continue to purchase previously stored goods in US warehouses. But CNN reminded that these inventories are starting to run out.

Seroka predicted that at that time, the choices available to US consumers will be greatly reduced. He said: "90% of global trade is completed through sea transport. At the Port of Los Angeles, about 45% of our business is related to China, including furniture, electronics, appliances, clothing, and shoes... These tariffs will eventually be reflected in the cost structure of goods and paid by US consumers."

According to reports from the Ministry of Foreign Affairs, at the request of the US side, high-level economic and trade talks between China and the US will be held in Switzerland from May 9 to 12.

CNBC reported that investors will closely monitor the talks, believing that they increase the possibility of easing the US-China trade war. Although reaching a comprehensive agreement may be complex and time-consuming, phased reductions in tariffs between both sides are possible, but analysts have differing views on the pace of de-escalation.

On the 8th, He Yadong, spokesperson for the Ministry of Commerce, responded to related issues by stating that China's position of firmly opposing US abuse of tariffs is consistent. If the US wants to solve problems through negotiations, it must face the serious negative impacts that unilateral tariff measures bring to itself and the world, face international trade rules, fairness, justice, and rational voices, demonstrate sincerity in negotiations, prepare to correct mistakes, cancel unilateral tariff increases, and take actions to move toward China, solving both parties' concerns through equal consultations.

He Yadong pointed out that if one says one thing and does another, or even attempts to use negotiations as a pretext to continue coercion and blackmail, China will not agree, nor will it sacrifice principles or fairness and justice to reach any agreement.

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Original source: https://www.toutiao.com/article/7502450215467631154/

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