China's trade with US sinks in November amid tariff war

  • China's trade with US sinks in November amid tariff war

China's trade with US sinks in November amid tariff war

The figures were published as the world's top two economies search for an end to the trade war launched past year by USA president Donald Trump that has roiled world markets and investor confidence.

White House economic adviser Larry Kudlow says Donald Trump would make the final decision on the import tariffs, which would hit Chinese-made cellphones, laptop computers, toys and clothing. "The reality is constructive talks, nearly daily talks".

China's trade surplus with the United States for November stood at $24.60 billion, according to Reuters calculations based on customs data, easing from the previous month's surplus of $26.45 billion. "In some ways it's better to wait until after the election for the China deal".

The better-than-expected import data may point to firming domestic demand after factory activity showed surprising signs of improvement recently, although analysts have noted the recovery could be hard to sustain amid trade risks. "It'll take probably three weeks, four weeks, or five weeks".

The nation's demand for pork is set to rise still higher with the Lunar New Year holiday just two months away, which is also the peak consumer spending period. But subsequent tough talk from Trump officials has shaken those expectations somewhat.

"There's no arbitrary deadlines", Kudlow contended. "But that is out there and it could happen if the deal is not completed by December 15".

Kudlow often jokes with reporters about his optimism, referring to himself multiple times as a "happy warrior". "I'm not saying as a forecast".

"We can't afford - we must not permit any country, China or whoever - to willy-nilly steal our breakthroughs in technology and advanced microprocessing related to 5G", Kudlow said, referring to a major sticking point in the negotiations: the USA alleges that China either steals American firms' technology secrets or forces them to cough them up in return for access to their giant consumer market.

On a phone call last week, lead Chinese trade negotiator Vice-Premier Liu He discussed "core issues of concern" with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin. The latest impasse on the technology transfer and other issues could push the talks into 2020, an US election year.

U.S. President Donald Trump announced Monday that he will "restore" tariffs on steel and aluminum imported from Brazil and Argentina.

USA lawmakers have been on the ropes over the decision as well, complaining that tax money taken from American workers will be funneled into China, since the U.S. is the biggest contributor to the World Bank. "It's going to be totally up to POTUS (the USA president). We will walk away", Kudlow insisted. "The president has said that if we cannot get the enforcement and the assurances, then we will not go forward".