The talks previously set for late March were delayed by the US-Israeli war with Iran, which has sent global energy prices soaring as shipping through the vital Strait of Hormuz has effectively come to a halt.
Exports from China to the US increased 11.3% year-on-year in April, rebounding from a 26.5% drop in March. Photo / Getty Images
For Trump, China’s massive surplus in bilateral trade between the countries has long been a major sticking point.
Before the key summit, China’s exports to the United States grew 11.3% year-on-year in April, official data showed Saturday, returning to growth after dropping by 26.5% in March.
Economists argue China should shift towards a growth model powered more by household consumption than traditional drivers, including real estate and infrastructure investment.
In a positive sign for domestic spending, imports into the world’s second-largest economy grew 25.3% year-on-year last month.
That figure beat a Bloomberg forecast of 20% but was lower than the 27.8% surge in March.
– AFP