China exports rise despite ongoing trade row with US

China exports rise despite ongoing trade row with US

His tweet came a day after Trump said that the USA was talking to China but asserted that Washington was not ready to strike an agreement with the Asian nation, ruling out an immediate breakthrough to end the trade war.

White House trade adviser Peter Navarro had strong words for China after its recent moves against the United States in the ongoing trade war. That came days after President Donald Trump announced he would impose new tariffs of 10 percent on $300 billion of Chinese imports, to take effect of September 1.

China's central bank set the yuan's midpoint weaker than 7 per US dollar for the second time this week early Friday.

He also said the USA will not do business with Chinese tech titan Huawei, despite earlier pledges to allow American firms to file for waivers from national security restrictions on the company's operations.

Since then, the yuan has shown signs of steadying at around the 7-per-dollar level. The intention behind the tariffs is to get China to agree to changes in its trade practices that the U.S. wants by making Chinese goods increasingly less competitive in the USA market. It's really going to impact consumers even more and it's certainly, with the Chinese announcement that they're going to stop buying US agricultural goods, that's going to hurt our farmers.

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China's currency weakened slightly on Friday to 7.0501 per greenback, following a daily reference rate from the People's Bank of China that was in line with estimates.

"I've never seen any country in the history of mankind that got rich by devaluing its currency", Moore told NTD, which, along with The Epoch Times, is part of Epoch Media Group. Twelve rounds of talks have failed to end the impasse, and a Chinese delegation is expected in Washington next month to continue the negotiations.

The U.S. dollar is too strong and is hurting exports, President Donald Trump said on Thursday, attacking the Federal Reserve for keeping interest rates higher than he would like.

Trump is unlikely to back down in trade talks, Moore said, given that the relationship has been lopsided in Beijing's favor for decades.

"The Chinese government is trying to masquerade the impact that these tariffs are having on the Chinese economy".

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