Trump warns he could do ‘a lot more’ on China trade

Trump warns there is 'a lot more' he can do to China

Lowered manufacturing output reported at the end of September in China indicates that the tariffs may be starting to bite Beijing.

BEIJING-China's trade surplus with the United States widened to a record $34.1 billion in September as exports to the American market rose by 13 percent over a year earlier despite a worsening tariff war.

China's trade surplus with the United States was $225.79 billion from January-September.

The news comes after the Trump administration imposed tariffs of $200 billion on Chinese imports in September, and Beijing retaliated with tariffs on $60 billion of USA imports to China.

The on-going trade spat between the two world powers has taken its toll on the global economy.

China's overall export growth accelerated, temporarily defying forecasts of a slowdown as the global economy and consumer demand cool.

The direct impact and indirect impact of the ongoing trade frictions is "generally controllable", Customs department spokesman Li Kuiwen said Friday.

With global growth cooling and US threats of more tariff hikes, "the recent resilience of exports is unlikely to be sustained", said Evans-Pritchard. -China trade frictions "have been escalating and other unstable factors still exist caused by a number of economic uncertainties worldwide", he said. That prompted Mr Trump to threaten to extend the tariffs to nearly all China's $500 billion of exports.

Chinese exports to the United States have at least temporarily defied forecasts they would weaken after being hit by punitive tariffs of up to 25 percent in a fight over American complaints about Beijing's technology policy.

China's export data has been surprisingly resilient to tariffs, possibly as companies ramped up shipments before stiffer USA duties go into effect, but factory surveys have shown export orders have been shrinking for several months.

China retaliated last month by putting tariffs ranging from 5 to 10 percent on $60 billion worth of American goods, coming into effect the same day as the American measures.

"The way the USA has structured the tariffs encourages frontloading because firms that know they're going to hit with tariffs would rather pay 10 percent than 25 percent", he said. He blamed previous USA presidents for allowing China to pursue unfair trade practices and said he had to tell Beijing, "It's over".

"He won't be happy with these figures but it proves that tariffs don't help curb exports", Huo said. "You're not ready yet, '" he said Thursday.

Separately, on Fox News, President Trump made it clear the pressure will continue: "They lived too well for too long and, frankly, I guess they think that the Americans are stupid people".

"I have a lot more to do if I want to do it".

But China has been standing firm, repeatedly saying that the only solution was through negotiation and compromise on both sides.

China posted a larger trade surplus of $31.69 billion for the month.

The White House is moving ahead with plans for President Trump to sit down with China's leader amid increasing tensions between the two countries over trade during a G-20 summit meeting next month in Argentina, according to a report Thursday.

Related News:



Most liked

Financial Times reports: UK PM Theresa May says Brexit deal is close
Leader of the House Andrea Leadsom and Work and Pensions Secretary Esther McVey are said to be opposed to the plan. The DUP has threatened to withdraw its support for the government if it is not happy with the final Brexit deal.

Mr. Rogers Crew Member Falls to His Death in Tragic Accident
The unidentified 65-year-old crew member was rushed to a Pittsburgh-area hospital, where his condition worsened, Mt. The film is inspired by a real-life friendship between Rogers and award-winning journalist Tom Junod (Rhys).

IBM integrates NVIDIA's RAPIDS for machine learning
Nvidia's claims are given credence by a slew of big tech companies that have thrown their weight behind the RAPIDS platform. Python all-star Anaconda and technology giants like IBM, Hewlett Packard Enterprise and Oracle are in on the action too.

True Detective Season 3 Release Date, New Photos Unveiled
It's about a state police detective who finds that the more he investigates a particular crime, the more disturbing it becomes. HBO has announced that True Detective will be airing its season three premiere on Sunday, January 13 at 9:00 p.m.

Promoter of Disastrous Fyre Music Festival Sentenced to Six Years in Prison
Fyre Festival took place in April previous year , billed as "the culture experience of the decade". He's seen at an earlier court appearance.

Tilda Swinton posed as an old man in elaborate hoax for Suspiria
At the film's premiere at the Venice Film Festival in September, she told reporters: "Dr Klemperer is played by Lutz Ebersdorf ". During filming it was rumoured that Swinton was going to be playing an old man, but Guadagnino insisted that it was "fake news".

Volvo and NVIDIA expand AV collaboration
Volvo announced this morning that it will be adopting NVIDIA's DRIVE AGX Xavier platform for its future self-driving vehicles. Earlier NVIDIA said that its software is capable of tracking movement of the head and eyes of the driver.

Russian Website Names Third Person Allegedly Involved In Skripal Poisoning
Mr Poroshin said he heard that Mishkin received Russia's highest medal for saving the life of his commanding officer during fighting with Islamist rebels in Chechnya.

Storm Callum: Your hour by hour forecast for Edinburgh and the Lothians
While heavy rain is expected to continue into Saturday, the wind is now forecast to ease off by Friday evening. There is a chance that homes and businesses could be flooded, causing damage to some buildings.

China's September trade surplus with U.S. widens to record $34.13B
Analysts say a sharp depreciation of the yuan has also helped China weather the tariffs by making its exports cheaper. The US dollar has strengthened against a range of currencies this year as American interest rates have risen.

William, Kate, Harry and Meghan arrive at Princess Eugenie's wedding
Unlike other royal weddings , the day will not be broadcast on BBC, with ITV's This Morning instead taking over the coverage. The presence of so many royals - and a number of celebrity guests - has prompted extra security measures to be put in place.

Usain Bolt scores two goals for Central Coast Mariners in trial game
If the keeper was disappointed to let in Bolt's first strike, the second goal was embarrassing for him and his centre-back.

A Whole New 'Aladdin'
A blue Will Smith is ready and raring to dazzle audiences as the new Genie in Disney's upcoming live-action remake of " Aladdin ". The movie, directed by Guy Ritchie , also stars Naomi Scott as Jasmine, Will Smith as Genie and Marwan Kenzari as Jafar.

Air India Flight Hit Trichy Airport Wall During Take-Off, 136 On Board
Tamil Nadu Tourism Minister Vellamandi N Natarajan visited Tiruchirappalli airport and inspected the accident spot. After the incident internal inquiry has been set up, pilot&co-pilot derostered till investigation is done.

6 extremely surreal moments from Kanye West's meeting with President Trump
Trump and West previously appeared together shortly after Trump's 2016 election in the lobby of Trump Tower in NY . West also argued that Mr Trump deserved more respect, saying, "If he don't look good, we don't look good".