China's foreign trade remained stable growth in the first half of this year by expanding 3.9 percent year on year, the General Administration of Customs said Friday.
US and Chinese flags are seen in front of a USA dollar banknote featuring American founding father Benjamin Franklin and a China's yuan banknote featuring late Chinese chairman Mao Zedong in this illustration picture taken May 20, 2019.
In the readout of the Xi-Trump meeting published by the state-run Xinhua news agency, it only mentioned that Mr Trump said he hoped China could increase imports from the USA, and didn't say how Mr Xi or the Chinese team responded.
"It's a move to manage market expectations" when a lot of uncertainties, especially the trade war, are clouding China's economic outlook, said Raymond Yeung, chief Greater China economist at ANZ Bank.
Board of Governors of the Federal Reserve System. He explained that the cut is more likely now due to weakening investment inflows as brought about by trade dispute with other countries. Major sticking points include when and by how much China will increase its imports of USA farm products, and how exactly the US will ease trade restrictions on Chinese technology giant Huawei Technologies Co. "Hopefully they will start soon!" He said on Twitter that "China is letting us down".
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It is unclear if Trump's statements are legitimate at this point since the Chinese government previously denied White House claims that it reneged on commitments that were part of the trade talks.
"The trade teams in the two nations will restart trade negotiations on a basis of equality and mutual respect, following the consensus agreed by their two state leaders in Osaka", Gao Feng, a spokesman for the Ministry of Commerce, said on Thursday at a regular briefing.
Presidents Donald Trump and Xi Jinping agreed in June to resume talks on the fight over USA complaints about Beijing's trade surplus and plans for government-led development of technology industries. Mistrust between Washington and Beijing runs high.
China slapped a 25 per cent tariff on U.S. soybeans last July as part of a trade war between the world's two largest economies, bringing imports of United States beans to a halt until the two countries agreed to a truce on last December.
Beijing has yet to release an official statement regarding the USA president's latest accusations.