China's trade surplus with U.S. surges, calls for patience

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President John Heisdorffer today provided testimony before the House Committee on Ways and Means on the potential impact of Chinese tariffs on US soybeans.

Trade deficit during the fiscal stood at United States dollars 156.83 billion.

Xi addressed the soldiers with a speech urging them to "fully implement the Party's absolute leadership over the armed forces, be firm in ideals and convictions, and uphold the glorious traditions, while pushing for technological innovation, developing new types of battle forces, and building a modern maritime combat system", according to Xinhua.

Wu Shicun, head of National Institute for South China Sea Studies, said the code being negotiated between China and ASEAN countries "should have some legally binding force".

"Syria is a client state of both Russian Federation and Iran and the risk for escalation is quite high and I think that is what the market is anxious about".

Trump's remarks during a meeting with Republican governors and lawmakers from farm states reinforced conciliatory signals the administration has been sending this week on the trade dispute.

He reiterated that China does not want a trade war, saying "this trade friction is not conducive to China's interests, nor is it conducive to the interests of the US".

"I was very proud of something I did at Mar-a-Lago, in Florida".

Talks between the world's biggest economies broke down last week after the Trump administration demanded steps to curtail China's support for high-technology industries, a person familiar with the situation said.

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This week it also hosted a global business forum that included a smattering of world leaders, among them Philippine President Rodrigo Duterte, whose country is a USA treaty ally and has overlapping claims with Beijing in the South China Sea.

Forecasters have been expecting Chinese economic growth to weaken since late a year ago after regulators tightened controls to cool a boom in bank lending and real-estate sales they worry is driving a unsafe rise in debt. And he said, "We will sell beef in China".

Following his appearance at the military display, Xi went on to the southern island of Hainan, in the South China Sea near Vietnam and its Paracel Islands, which China illegally claims as its own. "But the one that really is the most interesting for the people at this table is beef", Trump said.

"He's going to open it up, take down a lot of the trade barriers - maybe all of them - but take down a lot of trade barriers".

Trump's economic advisor Larry Kudlow said the United States was receiving good signals from China for change in the past few days.

"There's a pot of gold there".

Neighbouring Taiwan has expressed concern at Xi's actions, as the Chinese President has set his country on the course of one of the most ambitious military development programmes ever seen. That's the design, it is not to punish; it's to grow.

"The task of building a powerful people's navy has never been as urgent as it is today", Xi said during the review.

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