Prospect of Trump-Xi talks raises hope for thaw in trade war

Adjust Comment Print

President Trump has taken a hard line stance against China, vowing to increase tariffs until a fair trade agreement can be reached. The Chinese currency has been falling in value against the dollar in recent months, raising concerns that Beijing is devaluing its currency to make Chinese goods more competitive against USA products.

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.

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 reported on Friday an unexpected acceleration in export growth in September and a record trade surplus with the United States, which could exacerbate an already-heated dispute between Beijing and Washington.

Despite concerns from some officials about the yuan's depreciation, U.S. Treasury staff have not recommended labeling China as a currency manipulator in a coming report on foreign exchange rate practices, according to media reports on Thursday.

The U.S. Treasury chief and People's Bank of China Governor Yi Gang extensively discussed currency issues on the sidelines of the International Monetary Fund and World Bank annual meetings on the Indonesian resort island of Bali.

Ho, a naturalized U.S. citizen, pleaded guilty previous year to conspiring to produce "special nuclear material" in China in violation of the U.S. Atomic Energy Act.

Liveblog: Google’s Pixel 3 launch event at 11am ET Tuesday, October 9
The notch is actually extremely thick and it is actually double the width of the notch that you'd find in other Android devices. I also like that Google continues to use a colourful power button, at least for the (not) pink and white variants.

S&P expects China's gross domestic product to grow at a 6.5 per cent rate this year, 6.3 per cent next year and 6.1 per cent in 2020.

Growth in imports for September instead showed a moderate slowdown to 14.3 percent from 19.9 percent in August, slightly missing analysts' forecast of a 15.0 percent growth. The Chinese trade surplus with Europe was $12.7 billion. Exports increased 14.5 per cent overall in September based on United States dollar values, according to HSBC. Washington and Beijing are now engaged in a bitter trade war. Chinese leaders scrapped that deal after Trump's first tariff hikes hit.

China is "actively pursuing our advanced nuclear technology for diversion to military use in its third-generation nuclear power submarine, in the development of a nuclear-powered aircraft carrier and in strategic dual-use nuclear-powered platforms, such as small modular reactors and floating nuclear power plants deployable in the South China Sea", the official said.

"Prospects for significant progress toward de-escalation of their trade conflict are low in the short term", said Kuijs. "I've reflected that to them", Mnuchin said in a TV interview on CNBC.

With global growth cooling and US threats of more tariff hikes, "the recent resilience of exports is unlikely to be sustained", said Evans-Pritchard.

Export restrictions on technologically advanced products also could lead to disruptions for some United States tech companies with extensive involvement in China.