Q1 trade deficit reaches US$8.43bn

China recorded its third consecutive monthly trade deficit in March, according to the mainland's customs bureau. The deficit totaled US$540 million and came after the removal of the export tax rebate and an import push aimed at stemming US complaints regarding its trade deficit with China. The mainland's trade deficit for the first quarter of this year reached US$8.43 billion, with exports rising 34% in the first three months to US$115.7 billion and imports growing 42% to rise to US$124.1 billion.