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

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

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.

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