The GOP political leaders are especially concerned about the impact trade retaliation from China could have on USA agriculture, which relies heavily on exports to China.
The data follows a month of tit for tat tariff threats by U.S. and China, ignited by the USA admin's frustration with China's massive trade surplus and intellectual property policies.
FIRST ALERT DAY: What to know ahead of Sunday's severe weather
Severe thunderstorms could be headed to the Grand Strand Sunday night, according to a release from the National Weather Service. Very warm and quiet weather wraps up the weekend before a windy and cool storm system impacts Arizona early next week.
As a result, the trade surplus came to more than 48 billion dollars, down 26.2 percent year-on-year.
Still, while no hard timeline has been set by either Washington or Beijing for the actual imposition of tariffs, analysts said China's exporters may already be adapting their strategies as punitive trade measures loom. "But even if this is avoided, trade looks likely to soften slightly over the coming quarters given that global growth now appears past its peak and China's own economy faces rising headwinds from tighter policy". Its imports from the US rose 8.9 percent in the quarter and 3.2 percent in March.
Meanwhile, imports surged 14% in March from a year ago, faster than the expected spike of 12%.
Imports of commodities continued to lead the way in March as manufacturers replenished inventories ahead of a seasonal pick-up in demand. That left China with a rare trade deficit for the month, also the first drop since last February.
Exit of WPP advertising guru Sir Martin Sorrell shrouded in secrecy
You have given me such excitement and energy, and I wanted to thank you for everything you have done and will do for WPP and me. Reportedly, the allegations involved misuse of company funds and also personal misconduct.
But the sudden spike in trade tensions with the United States is clouding the outlook for both China's "old economy" heavy industries and "new economy" tech firms.
Clearly, US President Trump believes that his Administration's trade threats against China are working and now there is talk of plans to focus on new tariffs and possible blocks to Chinese tech investment in the US.
US President Donald Trump today said trade negotiations with China were going on "very well", asserting that the two countries have made a lot of progress.
Still, last month's surplus with the United States fell to $15.4 billion from February's $21 billion, while it was also down from $17.7 billion during the same period in 2017.
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A teenager has died after a stabbing in east London overnight as the capital continues to be gripped by a surge in knife-crime. Monday's death comes after two people died of stab wounds in separate domestic incidents in London on Sunday.
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