US security adviser Bolton vows tougher approach to China

US security adviser Bolton vows tougher approach to China

The world's two biggest economies last slapped tit-for-tat tariffs on each other's goods on September 24.

Relations between the world's two largest economies have soured sharply, however, with Trump earlier Thursday vowing to inflict economic pain on China if it does not blink in a trade war.

Fresh concern about a trade war with China and rising interest rates have in part sparked a broad USA stock market sell-off, with the S&P 500 on Wednesday falling the most since February.

The Trump administration is trying to overcome a US$376 billion trade deficit with China and combat what it claims are unfair trade practices by Beijing.

The conclusion, if accepted by Mnuchin, would avert an escalation of the U.S.


Trump has made similar accusations, although security experts say they didn't know of any Chinese influence operations comparable to Russian activities during the 2016 presidential election. But that might hurt China's economy by encouraging an outflow of capital.

If China is unwilling to move forward with making those structural changes, there could be a longer impasse, Roache said. The review was prompted by China's accelerated efforts to acquire US intellectual property to the detriment of USA businesses and military interests, they said. Next month's meeting will be the first direct talks since August, the Washington Post reports.

September exports rose 14.5 percent from a year earlier, Chinese customs data showed.

The International Monetary Fund this week cited the trade war as it lowered its 2019 growth forecast for China, which is set to see its slowest expansion since 1990.

Mnuchin did not report any breakthroughs in his discussions with the Chinese but he indicated that Trump may meet with Chinese President Xi Jinping during a summit of leaders of the Group of 20 biggest global economies in Argentina in late November.


The United States is tightening controls on China's imports of civil nuclear technology to prevent use for military or other unauthorized purposes, the U.S. Department of Energy said on October 11. Otherwise, China's export performance as of September is steady, and a bit disappointing in the case of non-Japan Asia.

The government is also concerned about diversion for use of technology by other countries, one of the officials said. "According to panellists, subdued market demand and reduced export sales had weighed on overall new business".

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.

HSBC said that China's export growth surprised to the upside in September, as exports to the European Union accelerated and growth of exports to the U.S. remained stable.

If the U.S. -China relationship could be rebalanced, Mnuchin told Reuters their total annual trade relationship could grow to $1 trillion from $650 billion now, with $500 billion of exports from each country.


"He won't be happy with these figures but it proves that tariffs don't help curb exports", Huo said. "We want to make sure that whatever we make up on trade, we don't lose on currencies", he said.

Related Articles

  • Kanye West Upstages Trump With a 10-Minute Oval Office Rant

    Kanye West Upstages Trump With a 10-Minute Oval Office Rant

    Trump and West talked a range of topics including reducing violence in Chicago , which is where the rapper grew up. However, Kanye claimed he didn't vote, but wishes he would've voted for the current president.
    'Tito Mboweni, Sha Sha': Twitter welcomes new finance minister

    'Tito Mboweni, Sha Sha': Twitter welcomes new finance minister

    He has in the past denied any wrongdoing connected to investments by the Public Investment Corporation fund. The Gupta family , who are Indian expatriates, are accused of working with former President Jacob Zuma.
    A Technology to Reverse Climate Change

    A Technology to Reverse Climate Change

    Heat waves, heavy precipitation, and regional droughts increase steeply, along with their related human health impacts. Coastal cities like Miami or NY will have to adapt or abandon part or all of their territory.
  • Brexit: PM's compromises a 'concern' for cabinet ministers

    Brexit: PM's compromises a 'concern' for cabinet ministers

    She said: "The uncertainty surrounding Brexit for everyone is substantial, but here in Northern Ireland it is acute". Britain's Brexit minister, Dominic Raab, could also come to Brussels then if weekend talks cover enough ground.
    Take a jab at flu season

    Take a jab at flu season

    Check with your physician, your county health department, or use the department's Flu Shot Locator to schedule your flu vaccine. Remember, the flu shot can take two to four weeks before it's fully effective, so it's best to be vaccinated sooner than later.
    Sevastova surges past Osaka into first Premier final

    Sevastova surges past Osaka into first Premier final

    Wozniacki claimed her first China Open title in 2010 when she jumped to top the WTA rankings for the first time. I needed to really work it, to work hard, win the points".
  • Kremlin Refuses to Comment on Bellingcat Report

    Kremlin Refuses to Comment on Bellingcat Report

    The group also said that until 2014, Mishkin's registered home address in Moscow was the same as the GRU's headquarters. According to Bellingcat, Mishkin was born in July 1979 in the village of Loyga in northern Russian Federation .
    Tropical Storm Michael Moves Near Western Cuba

    Tropical Storm Michael Moves Near Western Cuba

    Kay Ivey issued a state of emergency in anticipation of widespread power outages, wind damage and debris produced by high winds. FEMA administrator Brock Long said the agency was prepared for the storm in all the states likely to feel Michael's impact.
    Bulgarian man charged with murder of Bulgarian journalist Viktoria Marinova

    Bulgarian man charged with murder of Bulgarian journalist Viktoria Marinova

    The country's chief prosecutor, Sotir Tsatsarov , said he could not yet say whether Ms Marinova's death was linked to her work. Flowers and candles are placed in memory of Bulgarian TV journalist Viktoria Marinova in Ruse, Bulgaria, October 9, 2018.
  • Google+ Bug Exposed Data of 500,000 Users

    Google+ Bug Exposed Data of 500,000 Users

    Unfortunately, whether you've forgotten about it or not, if you have a Google + account, your data may have been put at risk. Google says Google + for consumers will wind down over a 10-month period, which would be complete by the end of next August.
    Why does everyone hate Angel Hernandez so much?

    Why does everyone hate Angel Hernandez so much?

    Cora preferred the matchup of the right-handed Kinsler, rather than the left-handed Holt, to face Yankees lefty CC Sabathia . David Price suffered the loss as he surrendered three earned runs on three hits with two strikeouts over 1 2/3 innings.
    Google's gadget show: Look for new phones, 'smart' home devices, more

    Google's gadget show: Look for new phones, 'smart' home devices, more

    The Google Pixel 3 and the Pixel 3 XL could be quite similar smartphones with several common features and specifications. The new Pixel Slate will be available in four flavors , with Intel Celeron, m3, i5, and i7 processor options.