Trad­ing places

The Oklahoman - - MONEY&MARKETS -

While Pres­i­dent Don­ald Trump threat­ens Bei­jing over its multi­bil­lion-dol­lar trade sur­plus with the United States, other ex­porters in­clud­ing Ger­many, Tai­wan and South Korea have their own sur­pluses with China.

Ger­many sup­plies Chi­nese fac­to­ries with high-end equip­ment. Tai­wan, South Korea and Ja­pan pro­vide com­puter chips and com­po­nents that go into Chi­nese-as­sem­bled smart­phones, TV sets and other goods sold to Amer­i­cans.

Chi­nese of­fi­cial data show Tai­wan’s trade sur­plus with China in the first eight months of 2017 soared 11.4 per­cent over a year ear­lier to $66.3 bil­lion. Ger­many’s sur­plus rose 16 per­cent to $16.1 bil­lion. South Korea’s was up 8 per­cent at $43.6 bil­lion.

Dur­ing the same pe­riod, the U.S. trade deficit with China widened by 8.4 per­cent to $168 bil­lion.

Trump blames Chi­nese mar­ket bar­ri­ers and in­dus­trial pol­icy. He has threat­ened penal­ties over steel, and U.S. author­i­ties are in­ves­ti­gat­ing whether Bei­jing im­prop­erly re­quires for­eign com­pa­nies to hand over tech­nol­ogy in ex­change for mar­ket ac­cess.

De­spite its sur­pluses, Ger­many also is ex­press­ing grow­ing frus­tra­tion about ob­sta­cles in­clud­ing lim­its on for­eign ac­qui­si­tions of Chi­nese com­pa­nies.

Source: Gen­eral Ad­min­is­tra­tion of Cus­toms of China Joe McDon­ald; J. Paschke • AP

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