China's June trade grew by double digits amid mounting tension with Washington but Beijing warned its exporters face "rising instabilities and uncertainties."
Exports rose 11.3 percent over a year earlier to $216.7 billion, down from May's 12.6 percent growth, customs data showed Friday. Imports expanded by 14.1 percent to $175.1 billion, down from the previous month's 26 percent.
In this July 6, 2018, file photo, trucks haul containers from a container port in Qingdao in eastern China's Shandong province. (Chinatopix via AP, File)
The June figures may have received a boost from U.S. and Chinese traders who rushed to fill orders for soybeans, ball bearings and other goods in both directions before threatened tariff hikes took effect.
The conflict with Washington, coupled with weaker global demand, adds to challenges for Beijing as economic growth cools after regulators tightened controls on bank lending starting last year to rein in surging debt.
"Chinese exports held up well on the eve of U.S. tariffs," Julian Evans-Pritchard of Capital Economics said in a report. "But disappointing import figures point toward weakening domestic demand."
In this July 6, 2018, file photo, a ship hauls containers at a container port in Qingdao in eastern China's Shandong province. (Chinatopix via AP, File)
Washington added 25 percent tariffs on $34 billion of Chinese goods on July 6 in response to complaints Beijing steals or pressures companies to hand over technology. China retaliated with higher duties on a similar amount of American goods.
This week, the Trump administration announced a possible second round of tariff hikes targeting a $200 billion list of thousands of Chinese products. Beijing criticized the measure but has yet to say how it might respond.
"There will be challenges facing foreign trade with rising instabilities and uncertainties in the global environment," said a Chinese customs agency report.
In this Friday, June 29, 2018, photo, a man stands underneath the pillars displaying Chinese President Xi Jinping's signature "China Dream" and "One Belt, One Road" foreign policy plan during an event in Beijing. (AP Photo/Andy Wong)
June exports to the United States grew faster than China's total with the world, expanding by 13.6 percent over a year ago to $42.6 billion in the possible sign exporters were rushing to fill orders.
China imported American goods worth $13.6 billion. Its politically volatile trade surplus with the United States widened by 14.2 percent to $29 billion.
China is running out of American goods for retaliatory tariffs due to their lopsided trade balance.
Last year's imports from the United States totaled about $130 billion. That leaves about $80 billion for penalty tariffs after previous increases either imposed or threatened on a total of $50 billion of U.S. goods are counted.
Beijing has stepped up efforts, so far without success, to recruit governments including Germany and France as allies. They criticize President Donald Trump's tactics but share U.S. complaints about Beijing's industrial policy and market barriers.
China's global trade surplus in June narrowed by 10.9 percent to $41.6 percent.
The surplus with the 28-nation European Union, the country's second-largest trading partner, expanded by 33.6 percent to $16.3 billion.
"Export growth will cool in the coming months as U.S. tariffs start to bite alongside a broader softening in global demand," said Evans-Pritchard. "Import growth is set to slow further as domestic headwinds from property controls and weaker investment spending continue to intensify."
ARLINGTON, Va. (AP) — T.J. Oshie lingered on the ice long after many of his Washington Capitals teammates departed for the locker room following the loss that eliminated them from the playoffs.
His family was at all four games, including in New York, just in case.
They could be the final ones he plays in the NHL.
Oshie isn't calling it a career just yet, but the 37-year-old winger acknowledged Tuesday he and doctors must find a solution to his chronic back problems before committing to return for a 17th season.
“I’d love to play next year, but I will need to come back with somewhat of a guarantee that my back won’t be — it’s hard putting everyone through the situation,” Oshie said. "I’d like to find just an answer and a fix to the problem before I make another run at it.”
Oshie's back and other injuries limited him to 52 of 82 games during the regular season, and he played the series finale against the Rangers with a broken left hand.
“A broken hand is like a hangnail compared to what I go through with my back,” Oshie said, adding he's often on the floor unable to move when it gives out. “There’s been a lot of just extra things that I have to do to make sure that my back is ready to play an NHL game.”
Already expecting center Nicklas Backstrom to remain on long-term injured in the final year of his contract after stepping away in November because of a nagging hip issue, general manager Brian MacLellan said the team will support Oshie whichever decision he makes and doesn't have a date by which he'd like an answer.
“If he determines at some point that he feels good, he wants to come back to play, let’s go that way,” MacLellan said. “If he doesn’t, we’ll work it out that way, too.”
Oshie's presence or lack thereof would certainly affect how the Capitals affect the offseason, whether they can use his $5.75 million salary space or need to fill a major void.
"He’s a big part of our team," MacLellan said. “You have him, or you go out and find a guy.”
Oshie, who reached the 1,000 games milestone and scored the empty-net goal that clinched a playoff spot, long ago emerged as a popular teammate and fan favorite and was the Capitals’ emotional engine for nearly a decade while playing through injuries.
“He’s a warrior,” captain Alex Ovechkin said. “He’s a guy who brings energy on the ice and off the ice. He have so much respect from the coaching staff to the fans and from the players, as well. He’s a guy who brings everything to this group on the ice and off the ice.”
After scoring just eight goals in his first 43 games of the season, Ovechkin went on a tear down the stretch to finish with 31 before being held without a point in a playoff series for the first time. At 853, he's 42 away from Wayne Gretzky's NHL career record, turns 39 in September and has two years remaining on his contract.
“If I make it, it’s good, but it’s still 42 goals,” Ovechkin said. “It’s kind of a long way. But it’s possible if you’re going to be healthy, yeah.”
MacLellan joked about penciling in Ovechkin for 42 next season, knowing full well it's unfair to expect one of the oldest players in the league to carry Washington offensively. His hope is also to add through trades and free agency to give Ovechkin some help.
Charlie Lindgren earned the No. 1 job from Darcy Kuemper and carried the Capitals to the playoffs starting a career-high 48 games. He has one season left on the three-year, $3.3 million contract he has outperformed and looks in line for a major raise, whether it's with Washington or someone else.
"We’ll kind of see what happens with that," Lindgren said. “It’d be nice, I’m not going to lie. Obviously it’s something that I’m working hard and I’m doing everything I can not just for myself but for my family and for the team and the organization."
While Lindgren is eligible to sign an extension July 1, MacLellan expects conversations but to go into the season without a new contract. He also expects Kuemper, two seasons into a five-year contract worth $26.25 million he got after backstopping Colorado to the Cup in 2022, to bounce back and have a good season.
AP NHL playoffs: https://apnews.com/hub/stanley-cup and https://www.apnews.com/hub/NHL
Washington Capitals right wing T.J. Oshie (77) controls the puck during the third period in Game 4 of an NHL hockey Stanley Cup first-round playoff series against the New York Rangers Sunday, April 28, 2024, in Washington. (AP Photo/Tom Brenner)
Washington Capitals right wing T.J. Oshie (77) is pictured during the third period in Game 4 of an NHL hockey Stanley Cup first-round playoff series against the New York Rangers Sunday, April 28, 2024, in Washington. (AP Photo/Tom Brenner)
Washington Capitals right wing T.J. Oshie (77) exits the ice after being eliminated by the New York Rangers in Game 4 of an NHL hockey Stanley Cup first-round playoff series Sunday, April 28, 2024, in Washington. (AP Photo/Tom Brenner)
