China's unnecessary provocative behavior has gone on for far too long and the near collision between United States and Chinese warships in the South China Sea is an example of how unsafe China's behavior is, Bolton said. The Journal notes that as the USA has imposed tariffs on $250 billion of Chinese imports, Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow have been pushing for negotiations between the two countries.
Exports to the 28-nation European Union, China's biggest trading partner, rose 11.6 percent to $37.4 billion.
Now Mike Pence, the vice-president, has raised the stakes with a ferocious broadside against Beijing, accusing it of engaging in a military, economic and political campaign to...
China imported 9.05 million bpd of crude oil in September, for a total of 37.12 million tons, which was the highest rate of crude oil intake since May, Reuters reports, citing data from the Chinese customs administration. "With stable fuel demand, we have been scooping up crude oil, pushing up premiums of some crude grades", the source said, but some local refiners have begun to worry about where oil prices are headed, expecting slimmer profit margins as a result.
"You're not ready yet, '" he said of China.
The onshore yuan weakened 0.51 percent to 6.9240 a dollar as of 4:52 p.m.in Beijing, erasing the gains on Thursday.
China exports to the rest of the world grew 14.5 percent year on year in US Dollar (USD) terms, which is nearly double expectations. That prompted suggestions Beijing might weaken the exchange rate to help exporters, but that might hurt China's economy by encouraging an outflow of capital. Imports grew 14.3 percent, down from 20.9 percent. It also slashed China's growth forecast for next year to 6.2 percent from 6.4 percent.More news: Second Suspect Named in UK Nerve Agent Poisoning Case
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Roache said that trade data could be "quite noisy" in the next few months, particularly as some have tried to time shipments around the implementation of United States and Chinese tariffs.
Beijing was included on the watch list because the surplus in goods trade made up a significant part of the United States total trade deficit. Chinese leaders scrapped that deal after Trump's first tariff hikes hit.
Chinese exports to the United States have at least temporarily defied forecasts they would weaken after being hit by punitive US tariffs of up to 25 percent.
"Prospects for significant progress toward de-escalation of their trade conflict are low in the short term", said Kuijs. Chinese operative Xu Yanjun also attempted to steal trade secrets from US aviation and aerospace companies, the department said.
With global growth cooling and USA threats of more tariff hikes, "the recent resilience of exports is unlikely to be sustained", said Evans-Pritchard. "If China wants the surplus to come down, they have to embark on structural reforms".
Growth in China's factory sector in September stalled after 15 months of expansion, with export orders falling the most in more than two years, a private business survey showed.