The history of the US-China trade relationship shows a clearer picture of the current situation.
The same figures showed that trade between China and the Portuguese-speaking countries reached US$20.4 billion (€16.5 billion) over the first two months of the year, with growth of 37.4%.
The surprise announcement follows China's largest-ever naval display in the disputed South China Sea, involving more than 10,000 navy personnel, 76 fighter jets and a fleet of 48 ships and submarines. The Chinese have about 1,200 short-range ballistic missiles-capable of striking Taiwan-in its inventory, and have recently added land-attack cruise missiles to the array of missiles deployed across from Taiwan, according to the report.
In the meantime, a Chinese shipment from an order of 11,000 metric tons, placed last summer, is due in port in the next few weeks and faces the new 25% mark-up.
China's first-quarter exports to the US rose 14.8 percent from a year earlier, despite a 5.6 percent drop in March. If Trump cuts off the firehose of revenue from cheap goods, products that are dumped on the US market, the ChiComs are done.
In his address, Trump cast his tariff threats as necessary to cultivate a "fair and reciprocal trade" relationship between the USA and China that he said has always been lopsided.
They are also watching to see if USA prices will fall enough to make it worth importing U.S. soy to crush and resell, he says.
The province was also exempt from the government's export quotas.
At the 5th India-China Strategic Economic Dialogue in Beijing, Niti Aayog Vice Chairman Rajeev Kumar said that Beijing and New Delhi were unruffled by the "protectionist noises" and could well be the important anchor for the world economy.
But soon they may face competition from China, whose Supreme Court in January revealed plans to establish worldwide commercial courts in Beijing, Xi'an and Shenzhen to deal specifically with trade disputes.
Imports for the first quarter grew 7 percent from a year ago to 112.07 million tonnes, or about 9.09 million bpd.
Imports of commodities continued to lead the way in March as manufacturers replenished inventories ahead of a seasonal pick-up in demand.
Analysts link the deceleration to Beijing's efforts to rein in the country's massive debt pile and financial hazards, as well as a slowing property market.
Weber points out that America's goal is parity on trade with China.
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 alike.
The trade surplus with the United States contracted 13 percent from a year earlier, while China's global trade balance swung to a US$5 billion deficit.
On March 22, President Donald Trump signed an executive order that will impose up to $60 billion of tariffs on Chinese exports to the US, first on steel and aluminum, and next on technology products, accusing China of stealing technology from USA companies.
The norm in China has always been for aging parents to move in with their children.
State refiners have stepped up exports to help cope with a growing surplus of refined barrels.
According to the 2018 Business Climate Survey Report released by the American Chamber of Commerce in China, more than half of the surveyed USA enterprises are optimistic about the investment prospect in China, and 75 percent reported a profitable year in 2017, the highest proportion over the last three years.