United States curbs China nuclear exports as Trump warns Americans not 'stupid'

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

"Their economy has gone down very substantially".

Communist officials have ordered companies to stop buying American soybeans - the biggest US export to China - and find alternative suppliers and export markets for other goods. "So we'll see", Kudlow said.

The trade feud has been fueled by U.S. accusations that China engages in cyber-theft and coerces foreign companies into handing over technology in return for access to the Chinese market, as well as by Trump's anger over China's trade surplus with the U.S. It is far from clear that the U.S. might be preparing to consider lifting penalty tariffs on about $250 billion of Chinese products.

The US tariffs cover a broad range of Chinese consumer goods, while China's were aimed mainly at American liquefied gas, machinery and electric equipment.

"China's trade surplus will keep rising because the domestic economy is cooling down", said Andy Xie, a Shanghai-based independent economist.

An opportunity for talks between Trump and Chinese President Xi Jinping could come during the Group of 20 leaders' summit in Buenos Aires in late November, the Wall Street Journal reported. Trump also on Wednesday renewed criticism of the Federal Reserve for raising interest rates, calling it a "mistake" and later reiterated his view in a Fox Business interview that the Fed "is going loco".

Trump is pressing China to improve trading conditions for United States products and to end what U.S. businesses say is widespread theft of their intellectual property.

Nhlanhla Nene relieved of his duties, Tito Mboweni appointed new Finance Minister
Ramaphosa said Nene wrote to him on Tuesday requesting to step down‚ and he had chose to accede to the request. It had received a battering under Mr Zuma's presidency.

The Wall Street Journal and the Washington Post have cited officials as saying Trump has made a decision to proceed with a meeting with Xi.

"We are seeing more and more - China included - countries that actually let their currency fluctuate, and that certainly has been the case over the last three years as far as China is concerned", Lagarde said.

Mnuchin met on Thursday with Yi Gang, head of China's central bank. She pointed to the dollar's strength as the main culprit for the weaker Chinese currency.

The Treasury Department's congressionally mandated twice-a-year report assessing whether trade partners are manipulating their currencies is on track for release next week, the people said.

The yuan has lost almost 10 percent of its value against the U.S. dollar this year.

"It's obvious that the immediate effects of the trade war are the exact opposite of what the Trump administration had been planning", Andrew Polk of Beijing-based research firm Trivium China tells the Post. 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.

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