From Bloomberg:

China may post its first trade deficit in six years after a surge in imports of commodities and consumer goods, weakening U.S. arguments that the nation is keeping its currency undervalued to gain an advantage.

Imports probably exceeded exports by $390 million in March after a $7.6 billion trade surplus the previous month, according to the median estimate in a Bloomberg News survey of 26 economists. The customs bureau is scheduled to release the figures tomorrow. Part of the shift into deficit is likely due to rising commodity prices, economists said.

U.S. Treasury Secretary Timothy F. Geithner met in Beijing yesterday with Chinese Vice Premier Wang Qishan amid rising pressure from American lawmakers for action to rein in a U.S. trade gap with China that was $227 billion last year. Premier Wen Jiabao’s government has said a stable yuan and its 4 trillion yuan ($586 billion) fiscal stimulus has contributed to the global recovery.