Trump says he has 'a lot more to do' on China trade

Trump warns there is 'a lot more' he can do to China

China’s Exports, Imports Grow, as Does Trade Surplus With US

The September surplus with the US was larger than China's overall trade surplus for the month.

Mr Trump lashed out as as senior White House figures accused China of trying to destabilise USA democracy and presenting the most serious threat to its security.

Yet the prospects remain highly uncertain as to whether the preparing to consider lifting penalty tariffs on about $250 billion of Chinese products, triggering retaliation by China.

The Energy Department said it would not end exports to China but would show greater scrutiny and that there "will be a presumption of denial" for new licenses related to the state-owned China General Nuclear Power Corp.

Japan's Nikkei 225 index gained 0.5 percent to 22,694.66 after sinking early in the day and following a almost 4 percent loss on Thursday.

"We will watch for downside risks to China's exports" in the fourth quarter, Wang said.

China's trade surplus with the United States widened to a record $34.1 billion in September as exports to the USA market rose by 13 percent over a year earlier despite a worsening tariff war. A 2017 Commerce Department report ranked China as the second largest market for United States nuclear exporters, second only to Britain.

"However, China's concerted effort to emulate and displace U.S. nuclear products could cause the permanent loss of global markets and domestic jobs in the long run", he said.

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Speaking about trade with China, Mnuchin also pointed out that currency controls would be a very important part of trade negotiations with China.

Relations between the world's two largest economies soured sharply this year, with US President Donald Trump vowing on Thursday to inflict economic pain on China if it does not blink. "Americans are not stupid people". "It's had a big impact", Trump said in an interview with Fox & Friends. "I've reflected that to them", Mnuchin said in a TV interview on CNBC.

He said although the Chinese want to negotiate, he does not believe they are ready.

What started out as a trade war between the United States and China is showing alarming signs of escalating into a geopolitical war.

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. Labeling China a manipulator could lead to a currency war, which IMF Managing Director Christine Lagarde said would hurt the global economy.

"We have helped rebuild China more than any other factor".

"The fundamentals of the USA economy continue to be extremely strong, I think that's why the stock market has performed as well as it has".

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