Amid Souring Relations And Trade War, China's Exports To US Soar

Marco Green
October 12, 2018

China's trade surplus with the United States surged to a record high of $34.13 billion in September, compared with $31.05 billion in August, according to Reuters.

"The United States can not ignore the national security implications of China's efforts to obtain nuclear technology outside of established processes of US-China civil nuclear cooperation", Secretary of Energy Rick Perry said in a statement Thursday.

China's exports to the United States rose to $46.7 billion while imports slumped to $12.6 billion, according to China's customs administration.

Beginning previous year, the National Security Council led a review of China's efforts to obtain nuclear material, equipment and advanced technology from USA companies, government officials said in a conference call with reporters on Thursday.

Ho, a naturalized U.S. citizen, pleaded guilty a year ago to conspiring to produce "special nuclear material" in China in violation of the U.S. Atomic Energy Act.

"For decades China has maintained a concerted, central government-run strategy to gain nuclear advantage", the second United States official said. A 2017 Commerce Department report ranked China as the second largest market for USA nuclear exporters, second only to Britain.

"We understand the U.S. industry may suffer in the short term", the administration official said, adding that "we believe that in the long term this policy will benefit" the United States and protect the American nuclear industry.

"They lived too well for too long and, frankly, I guess they think the Americans are stupid people", Trump said. "Americans are not stupid people", Mr Trump said in an interview on "Fox and Friends".

U.S. President Donald Trump warned on Thursday there was much more he could do that would hurt China's economy further, showing no signs of backing off an escalating trade war with Beijing.

"Their economy has gone down very substantially", he said.

President Trump added he could do a lot more if he wanted to, but said he would prefer Beijing come to the negotiating table. The review was prompted by China's accelerated efforts to acquire USA intellectual property to the detriment of US businesses and military interests, they said.

China has responded by imposing counter tariffs, which the Trump administration alleges show political interference by targeting products from key states in next month's congressional elections.

The International Monetary Fund on Tuesday cut its global economic growth forecasts for this year and next, saying that the U.S-China trade war was taking a toll.

The Trump administration will limit sales of U.S. civil nuclear technology to China out of concerns that it is being diverted for military and other unauthorized purposes. We have helped rebuild it.

Other reports by Click Lancashire

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