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China says 'bully' United States started a trade war

China says 'bully' United States started a trade war

Wang said he had been under the impression that four rounds of high level talks in recent months between China and the United States had averted the trade war.

Others say the latest data shows how hard it will be for the USA to win the trade war, arguing that Americans want to buy Chinese-made products.

"Those talks produced progress, so much so that the USA government said they would put the trade war on hold, but all of a sudden an announcement was made to impose tariffs on imports from China".

China's total exports rose 11.3% year-on-year in June, beating a Bloomberg News forecast of 9.5%.

Donald Trump had recently upped the ante by threatening higher tariffs on a colossal $200 billion of Chinese imports.

This week, Washington threatened to impose 10% tariffs on another $200bn of Chinese imports. The sign added: "The US provoked a trade war, we vow to accompany it to the end!"

China's June trade grew by double digits amid mounting tensions with Washington but Beijing warned its exporters to face "rising instabilities and uncertainties".

"Looking ahead, export growth will cool in the coming months as United States tariffs start to bite alongside a broader softening in global demand", Julian Evans-Pritchard, the senior China economist at Capital Economics in Singapore, said.

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The expanding trade surplus was largely because of smaller imports.

However, a lower yuan would make it more expensive for China to import U.S. goods.

Investors fear a prolonged trade battle with the United States could harm business confidence and investment, disrupting global supply chains and harming growth in China and the rest of the world.

"This trade dispute will definitely have an impact on China-US trade and will have a very negative impact on global trade", a Chinese customs administration spokesman said today.

Imports grew 14.1 percent in June, customs said, missing analysts' forecast of a 20.8 percent growth, and compared with a 26 percent rise in May. They said as a outcome figures for July and August were likely to show a decline in exports to the US.

Separate customs data on Friday showed imports of commodities from soybeans to crude oil eased compared with a year ago, but China's steel mills and aluminum smelters sold much more overseas spurred by higher global prices amid growing concerns about slowing demand growth.

However, analysts said the June figures were a sign that exporters rushed to beat the initial tranche of tariffs, which came into effect in the first week of July.


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