China begins to abandon billion-dollar trade with the US to expand with Belt and Road countries

China has increased its trade with countries participating in the Belt Initiative e Rota in the first four months of 2024but reduced trade with the United States, according to data released by General Administration of Customs this Thursday, the 9th.

Total trade with the nations involved in the project was 6,54 trillion yuan (903 billion dollars), representing an increase of 6,4%.

This volume corresponds to 47,4% of China’s total foreign trade from January to April. Exports reached 3,64 trillion yuan, a growth of 6,7%, while imports reached 2,9 trillion yuan, an increase of 6%.

Trade with countries in Association of Southeast Asian Nations (ASEAN) rose to 2,18 trillion yuan, an advance of 8,5%.

In the first four months of 2024, trade volume between China and the United States totaled 206,42 billions of dollars, a drop of 2,3% compared to the previous year.

Chinese exports to the United States have declined 1% for 151,93 billions of dollars, while imports of North American products fell 5,7%, reaching 54,49 billions of dollars.

The US Treasury Secretary, Janet Yellenwarned that a decoupling between Washington and Beijing could seriously affect global economies.

Chinese authorities emphasized the need to implement the consensus discussed at the San Francisco Summit and maintain dialogue to resolve the trade dispute.

Beijing criticized the politicization of trade relations by the United States and condemned the use of the concept of national security as a justification for imposing unilateral sanctions against Chinese companies.