Monday, 10 December, 2018

Trump Warns China Nuclear Tech Exports Will Shrink

Trump warns there is 'a lot more' he can do to China China’s Exports, Imports Grow, as Does Trade Surplus With US
Jean Garcia | 12 October, 2018, 19:41

The International Monetary Fund on Tuesday cut its global economic growth forecasts for this year and next, saying that the U.S-China trade war was taking a toll.

China's trade surplus with the United States surged to a record high of $34.13 billion in September from the August figure of $31.05 billion, Chinese customs data reported on Friday, according to Reuters.

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 US imports to China.

The volume of exports from China to Russian Federation has grown by nearly 13 percent, exceeding $35 billion.

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.

The yuan has fallen for weeks against the United States dollar, dropping nine percent in the past six months, which mitigates the rise in the price of Chinese goods caused by punitive U.S. tariffs.

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

Financial Times reports: UK PM Theresa May says Brexit deal is close
This, however, would raise the prospect of increased regulation checks between Northern Ireland and the rest of the UK. A negotiated Brexit , and Theresa May's survival, hinge on whether her ministers and MPs can live with this paradox.

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. These would be the first direct talks since August, but with both sides digging in their heels, there are few hopes the leaders can secure a major breakthrough.

Trump accused China of thinking Americans are "stupid" and boasted that his tariffs had already "had a big impact" on China's stumbling economy in a Thursday interview on Fox News.

Trump said Thursday that his tariff strategy was working. -China relations deteriorate further.

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

President Trump has warned China that Washington is taking measures to curb the exporting of nuclear technology to China, adding that Americans were not "stupid", AFP reports as the Department of Energy released yesterday a set of measures "to prevent China's illegal diversion of USA civil nuclear technology for military or other unauthorized purposes".

President Trump added he could do a lot more if he wanted to, but said he would prefer Beijing come to the negotiating table.

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