US-China trade war heats up as surplus hits record $34 Billion

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#China #TradeWar #Tariffs
US-China trade war heats up as surplus hits record $34 Billion
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The Duran
Published on Oct 17, 2018
The Duran – News in Review – Episode 136.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the escalating trade war between the United States and China, and the record trade surplus that positions China with a bit more leverage than Trump anticipated.

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According to a report by the AFP (https://www.afp.com/en/news/15/china-...
) , China's trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war.

Relations between the world's two largest economies have soured sharply this year, with US President Donald Trump vowing on Thursday to inflict economic pain on China if it does not blink.
The two countries imposed new tariffs on a massive amount of each other's goods mid-September, with the US targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of US goods.

"China-US trade friction has caused trouble and pounded our foreign trade development," customs spokesman Li Kuiwen told reporters Friday.

But China's trade surplus with the US grew 10 percent in September from a record $31 billion in August, according to China's customs administration. It was a 22 percent jump from the same month last year.

China's exports to the US rose to $46.7 billion while imports slumped to $12.6 billion.

China's overall trade -- what it buys and sells with all countries including the US -- logged a $31.7 billion surplus, as exports rose faster than imports.

Exports jumped 14.5 percent for September on-year, beating forecasts from analysts polled by Bloomberg News, while imports rose 14.3 percent on-year.

While the data showed China's trade remained strong for the month, analysts forecast the trade war will start to hurt in coming months.

China's export jump for the month suggests exporters were shipping goods early to beat the latest tariffs, said ANZ's China economist Betty Wang, citing the bounce in electrical machinery exports, much of which faced the looming duties.

"We will watch for downside risks to China's exports" in the fourth quarter, Wang said.

Analysts say a sharp depreciation of the yuan has also helped China weather the tariffs by making its exports cheaper.

"The big picture is the Chinese exports have so far held up well in the face of escalating trade tensions and cooling global growth, most likely thanks to the competitiveness boost provided by a weaker renminbi (yuan)," said Julian Evans-Pritchard, China economist at Capital Economics.

"With global growth likely to cool further in the coming quarters and US tariffs set to become more punishing, the recent resilience of exports is unlikely to be sustained," he said.

#China #TradeWar #Tariffs #TheDuran
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News & Politics

The Duran
Pinned by The Duran
The Duran
3 days ago
Who comes out ahead in the trade war, U.S or China?

BUY. Pass by our shop and pick up a t-shirt: http://drnshop.com
DONATE. Every little bit helps us broadcast: https://www.paypal.me/theduran/10

5


Rabbi Jim Foroud Behizadeh
Rabbi Jim Foroud Behizadeh
3 days ago
How about we stop sending $50 million/day to Israel and send all AIPAC mafia goons to GITMO

52


rick4electric
rick4electric
3 days ago
A break with China could not help but IMPROVE the wages and job opportunities for the American People! The idea that the heavy manufacturing loss in the United States is a one way street is ridiculous! Get rid of the Rothschild Federal Reserve and ANYTHING is possible! Why support those rich drones anyway? Make them sell their art collections and get a job! They would rather die! So they will self-eliminate themselves and all will be well with the world forevermore!

34


Dennis Clark
Dennis Clark
3 days ago
Proverbs 22:7  "The rich ruleth over the poor, and the borrower is servant to the lender."

26


Paul McM
Paul McM
3 days ago
I do like listening to you two, Very informative.

13


Rob Ford
Rob Ford
3 days ago
It's not Free Trade..The whole Fkin system is Rigged....

13


Rosebud
Rosebud
3 days ago
The USA scapegoating other nations for interfering in their elections, LOL.  . .  it's all over now Baby Blue!

16


Kirstin Strand
Kirstin Strand
3 days ago (edited)
You two are SOooo Good. I could watch you all day,  your content is superior. Fair, reasonable and realistic.

33

The Duran

Joan Taylor
Joan Taylor
3 days ago
Can anyone explain to me why we are not self sufficient?

11


Larry Sherk
Larry Sherk
3 days ago
I think the only sustainable way out of this is for America to break its deep habit of insane consumption.  American presidents have tried to solve problems by getting people to buy more stuff, and that has become the problem.  The situation calls for a lot of love and a whole lot less materialism.

10


kroikye
kroikye
3 days ago
Those that Control the Fed are Trying to Make the U.N. a MARXIST World Government Through Agenda 21. The Federal Reserve was set up by the Rothschilds and their Cronies. The Rothschild Family however has the Official Title : " Guardians of the Vatican Treasury ", its even in the Encyclopedia Judeica. And Dynasty Founder Mayer Amschel Rothschild was Already a Member of the VATICAN Knights of Malta. So yes the Rotschilds have a Degree of Power, but they SERVE the 1500 yearold Vatican System. Once Again : All ( NWO ) roads lead to the ANTICHRIST Papacy in Rome. And Yes this Current System will Fail and the Papacy will Play the Role of " Savior " : Offering the Marxist One World System and One World New Age Religion as a " Solution ". While Unknown to Many the Papacy, the JESUITS, Freemasonry and Other Secret Societies Created Much of the Problems in the First Place. Please do your Own Research and Get Born Again, God bless.

24


Robber Baroness
Robber Baroness
3 days ago (edited)
I don't buy no Apple slave goods. Saves me a lot of money too. If we dont stop China buying our real estate it went matter what deals we have.

13


Got George
Got George
3 days ago
We should go full isolationist. No more foreign aid, no more foreign intervention or military presence. Bring all the troops home and protect our borders. No more immigration ever again. We are full! What’s wrong w that?

9


mark hughes
mark hughes
3 days ago
Great analysis - Thanks again

18

The Duran

Louis Verheem
Louis Verheem
3 days ago
Recon US will win the trade war if the GOP wins the midterms and Trump gets a second term. If they loose China will get the political machine to reverse the tariffs and will become more powerful than US in a couple of years.

If the US doesn't play the long game and push hard now they will loose forever.

18


Robert Berger
Robert Berger
3 days ago
China took out a billion people out of poverty! why  the USA is not doing the same with South America and Haiti

18


Vinod Vasan
Vinod Vasan
3 days ago
Seems like the Chinese have many retaliatory measures up its sleeves. Great analysis by Alexander mercouris as always.

10


Cristy Brown
Cristy Brown
3 days ago (edited)
But it's not just about Trade. Theft is also a problem with China. They require industries to sign away their rights to do business there. It's more complicated than simple trade balance. The Chinese are not behaving honorably. Their intentions are not for balance in any way nor are they honest. Notice it doesn't work on Russia.

15


geo con
geo con
3 days ago
China wants to be the USA... The USA does not want to be CHINA in any way shape or form .

12


BackwoodsBungalow
BackwoodsBungalow
3 days ago
Sorry to hear that you are so far from understanding the China trade issue. China bribed Billy Blythe with millions of dollars for his election campaign before the USA approved the entry of China into the WTO. China was supposed to open its markets and comply with copyright law. China is still dragging it's heels on compliance. China also benefits unfairly because workers rights are only applied to goods made in USA rather than goods sold in USA. The result was that millions of citizens of China were lifted out of poverty but many skilled workers and middle class managers in the USA lost their jobs, homes and pensions. These are the forgotten people who are rightly angry about bad trade deals who came out to vote for a business who is deeply committed to negotiating better trade deals.

10


吴晓东
吴晓东
2 days ago
Many Americans  have an trade deficit with Walmart,   Is Walmart ready to negotiate or will they get tariffed?

4


rick4electric
rick4electric
3 days ago
Trump should call their bluff! China CAN NOT afford to antagonize their American consumers. The Chinese Government is a very FRAGILE entity and MUST take into consideration that a reversal in Chinese upward mobility could bring them to their knees!

15


James P Dougherty
James P Dougherty
3 days ago
Very informative. Thanks. Don't agree with the projections, all of them,  but quite informative. Thanks

3


miamistorm
miamistorm
2 days ago
China will inflict the greatest damage on itself by selling US debt because it will significantly devalue the unsold portion of their portfolio. With most BRIC nations in economic trouble, the US has become the world's #1 place for investment so whatever China sells there will be eager buyers on the other side of the trade. Simple economics.

5


Anti Yuppie
Anti Yuppie
2 days ago (edited)
Good show, but I don't agree. China is in a much weaker position simply because they export to the US much more then they import from the US (5 times more ~ $100B vs $500B in 2017, hence the huge deficit). They don't have an alternative to the US market. They already export to Europe and other Asian countries (thanks to the globalist WTO) and these countries would not be able to absorb the goods unsold to America, not even close. Also the US companies will not be able to just pass the tariffs to the consumers - they would suffer competitively... it's a market economy and domestic products would be cheaper. The Chinese are bluffing, as they are bluffing with the sale of the US bonds. A precipitous sale of US bonds would be detrimental to China much more than to the US as they would have to sell the bonds at bargain prices. There will be a deal, but much closer to the US than to the Chinese position. Good job Donald Trump.

6


Carmen Iglesias
Carmen Iglesias
2 days ago
For Democrats is Russia and for Trump and Republicans is China!  🤣🤣🤣🤣🤣!  🤡 🤡 🤡 🤡 🤡!  💩 💩 💩 💩 💩!

2


twaters57
twaters57
3 days ago
China should forget about the US trade. China does not need the US consumer or the US dollar anymore. China can make up the lost trade with the US easily by growing it's consumer economy and expanding their trade with other countries. The US has a fake consumer economy that is fueled by printing US dollars (21 trillion so far).

6


Phoenix Swooping
Phoenix Swooping
3 days ago (edited)
I take a much longer term view of the Chinese political economy and see them as far more vulnerable to the looming New Industrial Revolution (Total Automation) than the US.

China's enormous population gives it a temporary advantage while human labour is a major component of the manufacturing sector.

But as Total Automation comes into being, manufacturing will return to the US and China will experience the political threat of literally hundreds of millions of unemployed in their restive  population.

9


744 748
744 748
3 days ago
Trump is just a lying charlatan. "Trade wars and good and easy to win," he said on Twitter. The guy is totally clueless and just waffles/flip-flops his way through life and gets away with it in the US because people are so uneducated.

4


Nollie Bothma
Nollie Bothma
3 days ago
Don't be fooled by all these theatrics between the US and China, and Iran and Russia ..... it is all designed to make the US economy and ultimately the whole world's economy collapse. Remember all countries are being ruled by secret fraternity organizations. This is the big push for a new world order,  and they absolutely will succeed.  This is all prophecy. The Beast will receive authority to rule the whole world. It is time to think about your eternal future. Do you have a covenant with JESUS CHRIST the only savior?

4


Thomas Boyd
Thomas Boyd
3 days ago
Awesome. Great video. Excellent  show.

2


transporter78213
transporter78213
3 days ago
Alexander made the argument for the tariff war to benefit the US by mentioning the possibility of major companies moving to countries other than China in which tariffs would most likely be considerably lower. Is it possible this is part of President Trump's plan?

2


young park
young park
2 days ago
Trump please give big lesson to China.... we all know that they deserves it...haha

2


F Vevaina
F Vevaina
3 days ago
Is it possible that that the trade balance in favor of China is a matter of timing? Maybe in the next measure of trade deficit, it may reverse.

2


Bryan Chance
Bryan Chance
3 days ago (edited)
China didn't take jobs and industries from the US!! The US gave them to China for short term gains and greed. Mexico is taking jobs away, south america is taking jobs away, next Martians are taking jobs away.

10


trumptrain 2020
trumptrain 2020
2 days ago
We don’t need china China has too many people they don’t have enough resources sustain those people they eat everything that swim crawl and fly including dogs we don’t need them as much as they need us we can get South America India and Africa the manufacturing jobs that they need they been Robbing the whole planet

1


Harold Sukhbir
Harold Sukhbir
2 days ago
Trump is a personality driven to wealth, power and fame. Being famous is the most important factor here. As president he wants to alter history in such a way as to immortalize his name long after he's gone. It never really was about a trade imbalance. It's really not about a trade war, but has to do with areal war. No mature country, wanting to build economy in the world will ever utilize nuclear weapons, because it would end the human journey including theirs. Wars will be fought with conventional weapons, and the country with superior tactical might will always win. China was preparing to challenge the US as leader by 2024, building its military and securing the south china sea with bases. Then there is Russia to the west. The only possible time to stop this inevitable march by China is to have an actual war, now, at this time, before China expands out of reach. That is why there are accusations of meddling etc. The rhetoric will continue to build and build as we go forward. China is aware of this and keeping calm in their dealings with US so as not to become a provocation/excuse for US to start a war. Trump wants to go down in history as the man who made a way for America to remain the dominant country for the next 50 years where China would have surely taken that role from them in the very near future.

1


John Atkins
John Atkins
3 days ago
I find it odd that 800 bbill  deficit and you dont see there already was a trade war AND WE WERE LOSING

1


humanyoda
humanyoda
3 days ago
You talked about deficit in the video, but wrote surplus in the title.

1


Josey Wales
Josey Wales
2 days ago
Bad show today......Your wrong about all.

1