China’s trade surplus with USA hits record high of US$34 billion

Trump Chinese lived too well for too long

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

U.S. President Donald Trump warned on Thursday there was much more he could do that would hurt China's economy further, showing no signs of backing off an escalating trade war with Beijing.

China is well-known as a resting place for state-owned corporate zombies.

On Wall Street, the Dow Jones Industrial Average jumped 305 points, or 1.2 per cent, in late-morning trading, and the Nasdaq composite surged 138 points, or 1.9 per cent.

The US already carefully reviews nuclear exports through the Energy Department's so-called Part 810 authorizations, which verify if the technology goes to peaceful use and will not be sent to a third country.

Although economists expect the American tariffs to eventually have an impact, the trade statistics reinforce the widely-held notion here that there will be no quick end to the trade war between Washington and Beijing.

The United States and China are now locked in an escalating trade war with the Trump administration imposing penalty tariffs on billions of dollars in Chinese goods and China retaliating by targeting US products including soybeans for penalty tariffs.

China is Russia's largest trading partner, accounting for 15 percent of Russian worldwide trade in 2017.

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His wife Norine looked on from the visitors' seating area as he listened to testimony from defense and prosecution witnesses. Both countries have experienced suspension of visa services and retaliatory sanctions and tariffs.

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On his first worldwide trip as president, Mr Trump visited Saudi Arabia and announced $US110 billion in proposed arms sales. At the lunch, West will be accompanied by black National Football League legend Jim Brown . "I just channelled it".

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Looking ahead, China has hiked non-state oil import quotas for 2019, potentially supporting imports of the commodity.

Mnuchin also told Reuters in an interview that China needs to identify concrete "action items" to rebalance the two countries' trade relationship before talks to resolve their disputes can resume.

China's large trade surplus with the United States has always been a sore point with Washington and is at the center of an increasing bitter dispute between the world's two biggest economies. "If China wants the surplus to come down, they have to embark on structural reforms".

President Trump has taken a hard line stance against China, vowing to increase tariffs until a fair trade agreement can be reached.

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

The IMF has also lowered estimates for the United States and the global economy as a whole.

Trump renewed his charge that past presidents Obama and George W. Bush "let China get out of control" through the massive United States imports of manufactured goods. We have helped rebuild it.

"I think the fundamentals are still very strong", Mnuchin said.

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