How to cut your trade deficit with China
The UK is struggling to meet its trade deficit targets as the cost of imports from China has surged and the cost for exports has dropped.
The UK trade deficit is the biggest it has been since the recession, when it was £24.6bn.
However, the UK still has an annual trade surplus of £1.9bn, which has been maintained by imports from the Chinese market and exports from the EU and the US.
The rise in the cost to produce goods from China, which rose from £1bn in 2015 to £1,500m last year, has led to the UK losing out to countries like France, which imports less than £500m from China.
The International Trade Commission has warned that Britain is losing out on more than £100bn a year in trade due to the cost-cutting measures taken by China.
There are a number of factors which have contributed to the trade deficit, according to the British Chambers of Commerce.
It has led the UK to lose out on a third of the world’s trade in agricultural products and industrial goods, such as machinery and machinery equipment.
It also has a significant role to play in the global supply chain, as the UK exports more than half of its goods to the rest of the EU, which is why the UK is one of the top three exporters of goods from the rest.
It is not just that Britain has lost out on trade with China.
China has also been reducing its trade in the UK.
China is reducing tariffs on products such as steel and aluminium, as well as reducing prices on goods such as electrical appliances and furniture.
It may also be reducing imports of other types of goods, like cars, computers and aircraft.
But, at the same time, it is investing more heavily in its own domestic market.
There is also evidence that China is moving towards making it easier for the UK and other EU countries to export their goods to China.
This is partly due to increasing trade between China and the EU.
China also wants to increase the number of EU member states it is allowed to export goods from to the 10 million mark, which would be in line with the WTO’s definition of ‘fair trade’.
This would give China a much stronger position in the market for UK goods.
But it will also increase the cost China will have to pay the UK, especially in the long term, as it will be investing more into its own manufacturing and export sector.
In addition, it may not be able to keep up the pace of the reduction in tariffs in the near future.
This means that, as Chinese imports of UK goods continue to rise, it could see its trade surplus shrink significantly over time.
But Britain will still have a strong trade balance with China in the future.