China to establish technology security system

The US Commerce Department placed Huawei on an

The trade war started because the president considered the U.S. trade deficit with China to be an indication that the country was taking advantage of the U.S. Many economists say that the deficit actually means that U.S. consumers are wealthier than their Chinese counterparts and can afford to buy more exports than Chinese consumers can.

Washington and Beijing resumed their trade battle last month when trade talks in the US ended without a deal and US President Donald Trump raised tariffs on $200 billion in Chinese goods, which Beijing retaliated to with its own tariff hike on billions worth US goods.

Analysts had forecast imports would fall 3.8%, reversing an expansion of 4% in April, which some had suspected was related to the reduction in the Value-Added Tax.

This resulted in a potentially crippling blow that sharply escalated US-China trade tensions.

Analysts said despite the rebound in exports, China's trade outlook is likely to suffer because of the turbulence ahead.

If enacted, the measures suggest Beijing would retaliate over USA restrictions imposed on Shenzhen-based Huawei Technologies Co Ltd due to what Washington said were national security issues.

Purple Xbox One S Fornite Edition console arrives June 7th 2019
Announced at E3 2018, the sequel will look to take the concept further and give it a unique style not seen in modern zombie games. As you can expect, the Greatest Xbox Deals of the Year will also offer lots of Xbox games at a discounted price.

That left the country with a trade surplus of 279.12 billion yuan (41.65 billion US dollars) for the month, according to customs data.

Trump is expected to meet Chinese President Xi Jinping at the G20 summit in Japan at the end of the month.

"Therefore, we believe Beijing is to step up its stimulus measures to stabilise financial markets and growth". The politically sensitive surplus with the United States was $26.9 billion, up from $21 billion in April. The metals are used in everything from electric auto motors and electronics to oil refining and clean diesel. The total exports unexpectedly rose more than one percent while imports fell by 8.5 percent.

Investors are also watching to see how much Beijing allows the yuan to weaken to offset higher US tariffs.

Beijing also has leaned more heavily on fiscal stimulus than in past downturns, possibly due to high levels of debt left over from past credit sprees.

Citing heightened trade uncertainties, the International Monetary Fund (IMF) last week cut its 2019 economic growth forecast for China to 6.2%, which would mark the country's weakest expansion in 29 years.

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