Prospect of Trump-Xi talks raises hope for thaw in trade war

Trump Chinese lived too well for too long

"Their economy has gone down very substantially".

"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", Energy Secretary Rick Perry said in a statement.

On Wednesday, FBI director Christopher Wray said that China represents the "broadest, most complicated, most long-term" threat to the USA and that it is waging a massive influence campaign over American voters ahead of the November midterm elections.

China's trade surplus with the United States grew 10 percent in September from a record $31bn in August, according to China's customs administration - a 22 percent jump from the same month a year ago. "We expect the dynamic to change once we get a bit deeper into this, but for now China is trying to outrun the next round of tariffs".

The United States and China imposed new tit-for-tat tariffs against each other's goods in late September, the latest escalation in a heated trade war between the world's two largest economies.

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

Trump told Fox News on Thursday that previous United States administrations had allowed China to pursue unfair trade for too long and that it was time for him to stop it.

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The Wall Street Journal, citing officials in both countries, reported that the two leaders will meet at the G20 summit in Argentina late next month.

In his comments in Bali, Mnuchin did not say what the forthcoming Treasury report, set to come out next week, will conclude about China's currency practices. The US dollar has strengthened against a range of currencies this year as American interest rates have risen. The central bank has tightened controls on currency trading to head off further declines.

"I am concerned about the weakness in the currency".

Reports that U.S. Treasury Secretary Steven Mnuchin has advised against labeling China as a currency manipulator - a status that could trigger penalties - were also seen as easing tensions. Washington accuses Beijing of manipulating its currency in order to gain trade advantages.

September marked the second straight record Chinese monthly trade surplus with the United States after August's $31 billion.

The currency has slid more than 9 percent against the dollar in the last six months, raising speculation that China has been deliberately weakening its currency as tensions with the US escalate. The review was prompted by China's accelerated efforts to acquire US intellectual property to the detriment of USA businesses and military interests, they said.

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