The US government has sued casino mogul Steve Wynn alleging that he did lobbying work for the Chinese government during the Trump administration.

The US justice department said it had asked Wynn to register under the Foreign Agents Registration Act but he refused to do it.

“Where a foreign government uses an American as its agent to influence policy decisions in the United States, FARA gives the American people a right to know,” assistant attorney General Matthew Olsen said.

<a href="https://www.wionews.com/world/leaked-database-shows-thousands-of-uyghurs-held-in-detention-by-china-479843">Also Read:&nbsp;</a><a href="http://13.235.153.162/world/leaked-database-shows-thousands-of-uyghurs-held-in-detention-by-china-479843" hreflang="en">Leaked database shows thousands of Uyghurs held in detention by China</a>

Wynn's attorneys however disagreed with the US Justice Department asserting that he had "no obligation to register".&nbsp;

The US government accused the tycoon of lobbing the Trump administration to remove a Chinese national from the United States who was charged with corruption in China and was seeking asylum in the US in 2017.

Watch:&nbsp;China to replace all foreign computers in government

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The US government complained that Wynn, ex-CEO of Wynn Resorts, acted on behalf of China's former vice minister of public security Sun Lijun.

Wynn had allegedly called ex-president Trump on cancelling the visa of the Chinese businessman who wanted asylum in the United States.

“The filing of this suit – the first affirmative civil lawsuit under FARA in more than three decades – demonstrates the department’s commitment to ensuring transparency in our democratic system,” Olsen said.

"Wynn conveyed the request directly to the then-president over dinner and by phone, and he had multiple discussions with the then-president and senior officials at the White House and National Security Council about organizing a meeting with Sun and other PRC government officials," the US government filing said.

"During the time that he engaged in this conduct, Wynn’s company owned and operated casinos in Macau, a special administrative region in the PRC," the government said.

The Biden administration alleged that Wynn acted&nbsp;at the request of the Communist Party in order to "protect his business interests in Macau".

(With inputs from Agencies)

WATCH WION LIVE HERE

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The US government has sued casino mogul Steve Wynn alleging that he did lobbying work for the Chinese government during the Trump administration. The US justice department said it had asked Wynn to register under the Foreign Agents Registration Act but he refused to do it.

The US government has sued casino mogul Steve Wynn alleging that he did lobbying work for the Chinese government during the Trump administration. The US justice department said it had asked Wynn to register under the Foreign Agents Registration Act but he refused to do it. “Where a foreign government uses an American as its agent to influence policy decisions in the United States, FARA gives the American people a right to know,” assistant attorney General Matthew Olsen said. Also Read: Leaked database shows thousands of Uyghurs held in detention by China Wynn's attorneys however disagreed with the US Justice Department asserting that he had "no obligation to register". The US government accused the tycoon of lobbing the Trump administration to remove a Chinese national from the United States who was charged with corruption in China and was seeking asylum in the US in 2017. Watch: China to replace all foreign computers in government The US government complained that Wynn, ex-CEO of Wynn Resorts, acted on behalf of China's former vice minister of public security Sun Lijun. Wynn had allegedly called ex-president Trump on cancelling the visa of the Chinese businessman who wanted asylum in the United States. “The filing of this suit – the first affirmative civil lawsuit under FARA in more than three decades – demonstrates the department’s commitment to ensuring transparency in our democratic system,” Olsen said. "Wynn conveyed the request directly to the then-president over dinner and by phone, and he had multiple discussions with the then-president and senior officials at the White House and National Security Council about organizing a meeting with Sun and other PRC government officials," the US government filing said. "During the time that he engaged in this conduct, Wynn’s company owned and operated casinos in Macau, a special administrative region in the PRC," the government said. The Biden administration alleged that Wynn acted at the request of the Communist Party in order to "protect his business interests in Macau". (With inputs from Agencies) WATCH WION LIVE HERE

US government sues casino tycoon Stephen Wynn over China lobbying

China's foreign ministry said today that the people recently arrested by the US were not Chinese law enforcement officers after Trump administration officials said they were part of "Operation <a href="https://www.wionews.com/world/china-launches-operation-fox-hunt-to-target-dissenters-captures-ex-interpol-chief-311725">Fox Hunt</a>".

<a href="https://www.wionews.com/world/operation-fox-hunt-us-arrests-eight-in-alleged-plot-to-intimidate-citizens-to-return-to-china-338636">Also Read |&nbsp;Operation Fox Hunt: US arrests eight in alleged plot to intimidate citizens to return to China</a>

"US is where the most number of fleeing Chinese suspects of corruption and economic crimes are hiding but in recent years, the US has been passive in responding to China's requests for cooperation," China's foreign ministry official Wang Wenbin had said.

Wenbin said the US should not become a "safe haven" for "criminals and their illegal assets."

The US government had charged eight people recently accusing them of coercing Chinese nationals in the country to return to their home country to face charges in a plot known as “<a href="https://www.wionews.com/world/all-you-need-to-know-about-chinas-espionage-programme-operation-fox-hunt-311547">Operation Fox Hunt</a>” and “Operation Skynet".

China had reportedly launched a campaign in 2014 to get fugitives abroad to return to face charges.

US officials had arrested five suspects in New Jersey, New York and California and charged them with conspiring to act as illegal agents for a foreign government.

However, the Chinese foreign ministry dismissed the charges as &nbsp;"baseless accusation and smears about Chinese efforts to pursue escaped criminals and recover stolen monies".&nbsp;

"We urge the United States ... to shoulder its international obligations and promise, stop coveting after the ill-gotten gains of criminals, and don't be a safe haven for criminals and their illegal assets," the Chinese foreign ministry said.

China's foreign ministry said today that the people recently arrested by the US were not Chinese law enforcement officers after Trump administration officials said they were part of "Operation Fox Hunt".

China's foreign ministry said today that the people recently arrested by the US were not Chinese law enforcement officers after Trump administration officials said they were part of "Operation Fox Hunt". Also Read | Operation Fox Hunt: US arrests eight in alleged plot to intimidate citizens to return to China "US is where the most number of fleeing Chinese suspects of corruption and economic crimes are hiding but in recent years, the US has been passive in responding to China's requests for cooperation," China's foreign ministry official Wang Wenbin had said. Wenbin said the US should not become a "safe haven" for "criminals and their illegal assets." The US government had charged eight people recently accusing them of coercing Chinese nationals in the country to return to their home country to face charges in a plot known as “Operation Fox Hunt” and “Operation Skynet". China had reportedly launched a campaign in 2014 to get fugitives abroad to return to face charges. US officials had arrested five suspects in New Jersey, New York and California and charged them with conspiring to act as illegal agents for a foreign government. However, the Chinese foreign ministry dismissed the charges as "baseless accusation and smears about Chinese efforts to pursue escaped criminals and recover stolen monies". "We urge the United States ... to shoulder its international obligations and promise, stop coveting after the ill-gotten gains of criminals, and don't be a safe haven for criminals and their illegal assets," the Chinese foreign ministry said.

Fox Hunt row: US should not to be haven for criminals, says China

President Donald Trump and his allies have tried to paint the Democratic nominee, Joe Biden, as soft on China, in part by pointing to his son’s business dealings there.

Senate Republicans produced a report asserting, among other things, that Biden’s son Hunter “opened a bank account” with a Chinese businessman, part of what it said were his numerous connections to “foreign nationals and foreign governments across the globe.”

But Trump’s own business history is filled with overseas financial deals, and some have involved the Chinese state. He spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company.

And it turns out that China is one of only three foreign nations — the others are Britain and Ireland — where Trump maintains a bank account, according to an analysis of the president’s tax records, which were obtained by The New York Times. The foreign accounts do not show up on Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names. The identities of the financial institutions are not clear.

The Chinese account is controlled by Trump International Hotels Management LLC, which the tax records show paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015.

The tax records do not include details on how much money may have passed through the overseas accounts, though the Internal Revenue Service does require filers to report the portion of their income derived from other countries. The British and Irish accounts are held by companies that operate Trump’s golf courses in Scotland and Ireland, which regularly report millions of dollars in revenue from those countries. Trump International Hotels Management reported just a few thousand dollars from China.

In response to questions from The Times, Alan Garten, a lawyer for the Trump Organization, said the company had “opened an account with a Chinese bank having offices in the United States in order to pay the local taxes” associated with efforts to do business there. He said the company had opened the account after establishing an office in China “to explore the potential for hotel deals in Asia.”

“No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive,” Garten said. “Though the bank account remains open, it has never been used for any other purpose.”

Garten would not identify the bank in China where the account is held. Until last year, China’s biggest state-controlled bank rented three floors in Trump Tower, a lucrative lease that drew accusations of a conflict of interest for the president.

China continues to be an issue in the 2020 presidential campaign, from the president’s trade war to his barbs over the origin of the coronavirus pandemic. His campaign has tried to portray Biden as a “puppet” of China who, as vice president, misread the dangers posed by its growing power. Trump has also sought to tar his opponent with overblown or unsubstantiated assertions about Hunter Biden’s business dealings there while his father was in office.

“He’s like a vacuum cleaner — he follows his father around collecting,” Trump said recently, referring to Biden’s son. “What a disgrace. It’s a crime family.”

In a misleading claim amplified by surrogates like his son Donald Trump Jr. and his lawyer Rudy Giuliani, the president has said the younger Biden “walked out of China” with $1.5 billion after accompanying his father on an official trip in 2013. Numerous news articles and fact-checking sites have explained that the huge figure was actually a fundraising goal set by an investment firm in which Hunter Biden obtained a 10% stake after his father left office. The firm did receive financial backing from a large state-controlled bank, but it is not clear the fundraising target was ever met, and there is no evidence Hunter Biden received a large personal payout.

As for the former vice president, his public financial disclosures, along with the income tax returns he voluntarily released, show no income or business dealings of his own in China. However, there is ample evidence of Trump’s efforts to join the myriad American firms that have long done business there — and the tax records for him and his companies that were obtained by The Times offer new details about them.

As with Russia, where he explored hotel and tower projects in Moscow without success, Trump has long sought a licensing deal in China. His efforts go at least as far back as 2006, when he filed trademark applications in Hong Kong and the mainland. Many Chinese government approvals came after he became president. (The president’s daughter Ivanka Trump also won Chinese trademark approvals for her personal business after she joined the White House staff.)

In 2008, Trump pursued an office tower project in Guangzhou that never got off the ground. But his efforts accelerated in 2012 with the opening of a Shanghai office, and tax records show that one of Trump’s China-related companies, THC China Development LLC, claimed $84,000 in deductions that year for travel costs, legal fees and office expenses.

After effectively planting his flag there, Trump found a partner in the State Grid Corp., one of the nation’s largest government-controlled enterprises. Agence France-Presse reported in 2016 that the partnership would have involved licensing and managing a development in Beijing. Trump was reportedly still pursuing the deal months into his first presidential campaign, but it was abandoned after State Grid became ensnared in a corruption investigation by Chinese authorities.

It is difficult to determine from the tax records precisely how much money Trump has spent trying to land business in China. The records show that he has invested at least $192,000 in five small companies created specifically to pursue projects there over the years. Those companies claimed at least $97,400 in business expenses since 2010, including some minor payments for taxes and accounting fees as recently as 2018.

But Trump’s plans in China have been largely driven by a different company, Trump International Hotels Management — the one with a Chinese bank account.

The company has direct ownership of THC China Development, but is also involved in management of other Trump-branded properties around the world, and it is not possible to discern from its tax records how much of its financial activity is China-related. It normally reports a few million dollars in annual income and deductible expenses.

In 2017, the company reported an unusually large spike in revenue — some $17.5 million, more than the previous five years’ combined. It was accompanied by a $15.1 million withdrawal by Trump from the company’s capital account.

On the president’s public financial disclosures for that year, he reported the large revenue figure, and described it only as “management fees and other contract payments.” One significant event for the company that is known to have occurred in 2017 was the buyout of its management contract for the Soho Hotel in New York, which Bloomberg reported to have cost around $6 million.

Garten would not comment on the specific amount cited by Bloomberg, but said that the contract buyout represented a “significant portion” of the company’s revenue and that the remaining money was not related to China.

Outside of China, Trump has had more success attracting wealthy Chinese buyers for his properties in other countries. His hotels and towers in Las Vegas and Vancouver, British Columbia — locales known for drawing Chinese real estate investors — have found numerous Chinese purchasers, and in at least one instance drew the attention of the Federal Bureau of Investigation.

During the 2016 campaign, a shell company controlled by a Chinese couple from Vancouver bought 11 units, for $3.1 million, in the Las Vegas tower Trump co-owns with the casino magnate Phil Ruffin. The owner of a Las Vegas-based financial services firm told The Times he was later visited by two FBI agents asking about the company behind the purchases, which he said had used his office address in incorporation papers without his knowledge. It is not known what became of the inquiry.

Garten said the Trump Organization had “never been contacted by the FBI and has no knowledge of any investigation.”

In Vancouver, numerous Chinese buyers of units in Trump’s hotel and tower helped increase licensing fees from that project to $5.8 million in 2016, the year it was completed, according to tax records. The project was built by a Canadian-based firm controlled by the family of Malaysia’s richest man, Tony Tiah Thee Kian, who operates hotels in China and elsewhere. CNN reported in 2018 that the Vancouver operation was the subject of a counterintelligence review related to Ivanka Trump’s need for a security clearance.

And not long after winning the 2016 election, Trump reported selling a penthouse in one of his Manhattan buildings for $15.8 million to a Chinese-American businesswoman named Xiao Yan Chen, who bought the unit, previously occupied by Ivanka Trump and her husband, Jared Kushner, in an off-market transaction. Chen runs an international consulting firm and reportedly has high-level connections to government and political elites in China.

Trump’s tax records show that he reported a capital gain of at least $5.6 million from the penthouse sale in 2017, his first year as president.

President Donald Trump and his allies have tried to paint the Democratic nominee, Joe Biden, as soft on China, in part by pointing to his son’s business dealings there.

President Donald Trump and his allies have tried to paint the Democratic nominee, Joe Biden, as soft on China, in part by pointing to his son’s business dealings there. Senate Republicans produced a report asserting, among other things, that Biden’s son Hunter “opened a bank account” with a Chinese businessman, part of what it said were his numerous connections to “foreign nationals and foreign governments across the globe.” But Trump’s own business history is filled with overseas financial deals, and some have involved the Chinese state. He spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company. And it turns out that China is one of only three foreign nations — the others are Britain and Ireland — where Trump maintains a bank account, according to an analysis of the president’s tax records, which were obtained by The New York Times. The foreign accounts do not show up on Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names. The identities of the financial institutions are not clear. The Chinese account is controlled by Trump International Hotels Management LLC, which the tax records show paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015. The tax records do not include details on how much money may have passed through the overseas accounts, though the Internal Revenue Service does require filers to report the portion of their income derived from other countries. The British and Irish accounts are held by companies that operate Trump’s golf courses in Scotland and Ireland, which regularly report millions of dollars in revenue from those countries. Trump International Hotels Management reported just a few thousand dollars from China. In response to questions from The Times, Alan Garten, a lawyer for the Trump Organization, said the company had “opened an account with a Chinese bank having offices in the United States in order to pay the local taxes” associated with efforts to do business there. He said the company had opened the account after establishing an office in China “to explore the potential for hotel deals in Asia.” “No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive,” Garten said. “Though the bank account remains open, it has never been used for any other purpose.” Garten would not identify the bank in China where the account is held. Until last year, China’s biggest state-controlled bank rented three floors in Trump Tower, a lucrative lease that drew accusations of a conflict of interest for the president. China continues to be an issue in the 2020 presidential campaign, from the president’s trade war to his barbs over the origin of the coronavirus pandemic. His campaign has tried to portray Biden as a “puppet” of China who, as vice president, misread the dangers posed by its growing power. Trump has also sought to tar his opponent with overblown or unsubstantiated assertions about Hunter Biden’s business dealings there while his father was in office. “He’s like a vacuum cleaner — he follows his father around collecting,” Trump said recently, referring to Biden’s son. “What a disgrace. It’s a crime family.” In a misleading claim amplified by surrogates like his son Donald Trump Jr. and his lawyer Rudy Giuliani, the president has said the younger Biden “walked out of China” with $1.5 billion after accompanying his father on an official trip in 2013. Numerous news articles and fact-checking sites have explained that the huge figure was actually a fundraising goal set by an investment firm in which Hunter Biden obtained a 10% stake after his father left office. The firm did receive financial backing from a large state-controlled bank, but it is not clear the fundraising target was ever met, and there is no evidence Hunter Biden received a large personal payout. As for the former vice president, his public financial disclosures, along with the income tax returns he voluntarily released, show no income or business dealings of his own in China. However, there is ample evidence of Trump’s efforts to join the myriad American firms that have long done business there — and the tax records for him and his companies that were obtained by The Times offer new details about them. As with Russia, where he explored hotel and tower projects in Moscow without success, Trump has long sought a licensing deal in China. His efforts go at least as far back as 2006, when he filed trademark applications in Hong Kong and the mainland. Many Chinese government approvals came after he became president. (The president’s daughter Ivanka Trump also won Chinese trademark approvals for her personal business after she joined the White House staff.) In 2008, Trump pursued an office tower project in Guangzhou that never got off the ground. But his efforts accelerated in 2012 with the opening of a Shanghai office, and tax records show that one of Trump’s China-related companies, THC China Development LLC, claimed $84,000 in deductions that year for travel costs, legal fees and office expenses. After effectively planting his flag there, Trump found a partner in the State Grid Corp., one of the nation’s largest government-controlled enterprises. Agence France-Presse reported in 2016 that the partnership would have involved licensing and managing a development in Beijing. Trump was reportedly still pursuing the deal months into his first presidential campaign, but it was abandoned after State Grid became ensnared in a corruption investigation by Chinese authorities. It is difficult to determine from the tax records precisely how much money Trump has spent trying to land business in China. The records show that he has invested at least $192,000 in five small companies created specifically to pursue projects there over the years. Those companies claimed at least $97,400 in business expenses since 2010, including some minor payments for taxes and accounting fees as recently as 2018. But Trump’s plans in China have been largely driven by a different company, Trump International Hotels Management — the one with a Chinese bank account. The company has direct ownership of THC China Development, but is also involved in management of other Trump-branded properties around the world, and it is not possible to discern from its tax records how much of its financial activity is China-related. It normally reports a few million dollars in annual income and deductible expenses. In 2017, the company reported an unusually large spike in revenue — some $17.5 million, more than the previous five years’ combined. It was accompanied by a $15.1 million withdrawal by Trump from the company’s capital account. On the president’s public financial disclosures for that year, he reported the large revenue figure, and described it only as “management fees and other contract payments.” One significant event for the company that is known to have occurred in 2017 was the buyout of its management contract for the Soho Hotel in New York, which Bloomberg reported to have cost around $6 million. Garten would not comment on the specific amount cited by Bloomberg, but said that the contract buyout represented a “significant portion” of the company’s revenue and that the remaining money was not related to China. Outside of China, Trump has had more success attracting wealthy Chinese buyers for his properties in other countries. His hotels and towers in Las Vegas and Vancouver, British Columbia — locales known for drawing Chinese real estate investors — have found numerous Chinese purchasers, and in at least one instance drew the attention of the Federal Bureau of Investigation. During the 2016 campaign, a shell company controlled by a Chinese couple from Vancouver bought 11 units, for $3.1 million, in the Las Vegas tower Trump co-owns with the casino magnate Phil Ruffin. The owner of a Las Vegas-based financial services firm told The Times he was later visited by two FBI agents asking about the company behind the purchases, which he said had used his office address in incorporation papers without his knowledge. It is not known what became of the inquiry. Garten said the Trump Organization had “never been contacted by the FBI and has no knowledge of any investigation.” In Vancouver, numerous Chinese buyers of units in Trump’s hotel and tower helped increase licensing fees from that project to $5.8 million in 2016, the year it was completed, according to tax records. The project was built by a Canadian-based firm controlled by the family of Malaysia’s richest man, Tony Tiah Thee Kian, who operates hotels in China and elsewhere. CNN reported in 2018 that the Vancouver operation was the subject of a counterintelligence review related to Ivanka Trump’s need for a security clearance. And not long after winning the 2016 election, Trump reported selling a penthouse in one of his Manhattan buildings for $15.8 million to a Chinese-American businesswoman named Xiao Yan Chen, who bought the unit, previously occupied by Ivanka Trump and her husband, Jared Kushner, in an off-market transaction. Chen runs an international consulting firm and reportedly has high-level connections to government and political elites in China. Trump’s tax records show that he reported a capital gain of at least $5.6 million from the penthouse sale in 2017, his first year as president.

Trump records shed new light on Chinese business pursuits

As India's defence minister Rajnath Singh held talks with his Chinese counterpart in Moscow, US President Donald Trump said, "it has been very nasty situation and we stand ready to help with respect to China and India."

Watch:&nbsp;

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"If we can do anything we would love to get involved and help. We are talking to both countries about that," the US President said.

<a href="https://www.wionews.com/india-news/indias-defence-minister-holds-talks-with-chinese-counterpart-in-moscow-amid-lac-row-325283">Also Read:&nbsp;India's defence minister holds talks with Chinese counterpart in Moscow amid LAC row</a>

The US President had made a similar comment in the aftermath of the Galwan clash in June between Indian soldiers&nbsp;and Chinese troops.

Indian and Chinese commander level talks have taken place after India said China tried to unilaterally change the status quo along the Line of Acutal Control(LAC).

When asked about by reporters that whether China was bullying India, Trump said: "I hope not but they are going more strongly at it than a lot of people even understand."

"China at this point is the nation you should be talking about much more so than Russia because the things that China is doing are far worse. Look at what happened with the China virus, look at what they have done to 188 countries all over the world."

The US president added that he "gets along with every country" apart from China as he "did not like what is happening with the pandemic".

"I do not like it at all. What they have done to this world, this country, Europe and every place else is terrible," Trump added.&nbsp;

As India's defence minister Rajnath Singh held talks with his Chinese counterpart in Moscow, US President Donald Trump said, "it has been very nasty situation and we stand ready to help with respect to China and India.

As India's defence minister Rajnath Singh held talks with his Chinese counterpart in Moscow, US President Donald Trump said, "it has been very nasty situation and we stand ready to help with respect to China and India." Watch: "If we can do anything we would love to get involved and help. We are talking to both countries about that," the US President said. Also Read: India's defence minister holds talks with Chinese counterpart in Moscow amid LAC row The US President had made a similar comment in the aftermath of the Galwan clash in June between Indian soldiers and Chinese troops. Indian and Chinese commander level talks have taken place after India said China tried to unilaterally change the status quo along the Line of Acutal Control(LAC). When asked about by reporters that whether China was bullying India, Trump said: "I hope not but they are going more strongly at it than a lot of people even understand." "China at this point is the nation you should be talking about much more so than Russia because the things that China is doing are far worse. Look at what happened with the China virus, look at what they have done to 188 countries all over the world." The US president added that he "gets along with every country" apart from China as he "did not like what is happening with the pandemic". "I do not like it at all. What they have done to this world, this country, Europe and every place else is terrible," Trump added.

We would love to get involved, says Trump on India-China standoff at LAC

A day after Joe Biden was formally nominated as the Democratic presidential candidate, China's state-run Global Times said Biden will be "smoother to deal with".

The Chinese tabloid ran a 1,227-word article backing Biden's campaign. The writer of the article is Yang Sheng who had earlier declared that India will "pay a heavy price if it miscalculates China".

In his opinion, the Hong Kong movement is leading the country nowhere and using the Wuhan virus to smear China will backfire. His views are in line with Xi Jinping.

Yang said the United States would be more predictable under Biden. The Global Times goes on to say that Biden will be better than Trump because he is likely to place the United States back into the Paris climate agreement and the Iran nuclear deal.

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"For China, because Biden was vice-president during Obama's term, and had a lot of prior experience dealing with Chinese leaders, we would expect to facilitate more effective communication with Biden if he wins," it says.

The article called the Trump administration "unilateral, selfish and hegemonic", adding that American and Chinese diplomats have nothing to talk about when they meet. China believes Biden could "change this".

Trump has repeatedly said that China wants him to lose. He has gone to the extent of saying that Beijing may interfere in the November 3 polls.

"The biggest risk that we have is mail-in ballots, it's much if it is a much easier thing for a foreign power, whether it's Russia, China, Iran, North Korea, many others, people, countries you wouldn't expect. It's much easier for them to forge ballots and send them in," the US president had said.

China is one of the biggest election issues this season even as 73 per cent of American adults have an unfavourable view of China and 78 per cent of Americans blame China for the global spread of the Wuhan virus, according to a Pew research.

A day after Joe Biden was formally nominated as the Democratic presidential candidate, China's state-run Global Times said Biden will be "smoother to deal with".

A day after Joe Biden was formally nominated as the Democratic presidential candidate, China's state-run Global Times said Biden will be "smoother to deal with". The Chinese tabloid ran a 1,227-word article backing Biden's campaign. The writer of the article is Yang Sheng who had earlier declared that India will "pay a heavy price if it miscalculates China". In his opinion, the Hong Kong movement is leading the country nowhere and using the Wuhan virus to smear China will backfire. His views are in line with Xi Jinping. Yang said the United States would be more predictable under Biden. The Global Times goes on to say that Biden will be better than Trump because he is likely to place the United States back into the Paris climate agreement and the Iran nuclear deal. × "For China, because Biden was vice-president during Obama's term, and had a lot of prior experience dealing with Chinese leaders, we would expect to facilitate more effective communication with Biden if he wins," it says. The article called the Trump administration "unilateral, selfish and hegemonic", adding that American and Chinese diplomats have nothing to talk about when they meet. China believes Biden could "change this". Trump has repeatedly said that China wants him to lose. He has gone to the extent of saying that Beijing may interfere in the November 3 polls. "The biggest risk that we have is mail-in ballots, it's much if it is a much easier thing for a foreign power, whether it's Russia, China, Iran, North Korea, many others, people, countries you wouldn't expect. It's much easier for them to forge ballots and send them in," the US president had said. China is one of the biggest election issues this season even as 73 per cent of American adults have an unfavourable view of China and 78 per cent of Americans blame China for the global spread of the Wuhan virus, according to a Pew research.

Biden smoother to deal with, Trump administration unilateral & selfish, says China's state-run Global Times

US President Donald Trump told voters just outside his opponent Joe Biden's Pennsylvania birthplace that the Democrat has sold out American workers and would be a "nightmare" if he got into power.

Biden is "your worst nightmare," Trump told the crowd in Old Forge, just down the road from Biden's old hometown of Scranton.

"He spent the last half century in Washington selling out our country and ripping off our jobs and letting other countries steal our jobs," Trump said hours before Biden was to address the nation and accept the Democratic nomination for the White House.

US President Donald Trump told voters just outside his opponent Joe Biden's Pennsylvania birthplace that the Democrat has sold out American workers and would be a "nightmare" if he got into power.

US President Donald Trump told voters just outside his opponent Joe Biden's Pennsylvania birthplace that the Democrat has sold out American workers and would be a "nightmare" if he got into power. Biden is "your worst nightmare," Trump told the crowd in Old Forge, just down the road from Biden's old hometown of Scranton. "He spent the last half century in Washington selling out our country and ripping off our jobs and letting other countries steal our jobs," Trump said hours before Biden was to address the nation and accept the Democratic nomination for the White House.

Joe Biden is ‘your worst nightmare, says Donald Trump 

Amid tensions with China, US President Donald Trump said today that he is not considering phase-2 trade deal with China.

"The relationship with China has been severely damaged, they could have stopped the plague, they could have stopped it, they didn't stop it," the US president said.

The US president made the comments as he was leaving for Florida which has been hit by a huge coronavirus outbreak in recent weeks. The US president will attend a campaign fundraiser in Florida.

Texas was one of the first US states to reopen in May after several weeks of lockdowns aimed at stemming the spread of coronavirus.

The United States is the hardest hit due to the virus with over 3.1 million cases and over 133,000 deaths. Apart from Florida, COVID-19 infections have been reported in Missouri, Idaho, Alabama, &nbsp;Montana and Oregon.

Florida has also seen a huge surge in coronavirus cases with Miami-Dade County reporting 33.5 per cent coronavirus positive cases among those who were tested for the virus.&nbsp;

Houston cancelled the Texas Republican Party's state convention, the mayor announced due to surge in COVID-19 cases.

"This decision is the decision to protect the health and safety of the employees, the delegates and the members of the public," Democratic mayor Sylvester Turner said.

Houston now has 40,012 cases of coronavirus with several cases reported in the past month along with other southern states who have experienced spikes.

Amid tensions with China, US President Donald Trump said today that he is not considering phase-2 trade deal with China. "The relationship with China has been severely damaged, they could have stopped the plague, they could have stopped it, they didn't stop it," the US president said.

Amid tensions with China, US President Donald Trump said today that he is not considering phase-2 trade deal with China. "The relationship with China has been severely damaged, they could have stopped the plague, they could have stopped it, they didn't stop it," the US president said. The US president made the comments as he was leaving for Florida which has been hit by a huge coronavirus outbreak in recent weeks. The US president will attend a campaign fundraiser in Florida. Texas was one of the first US states to reopen in May after several weeks of lockdowns aimed at stemming the spread of coronavirus. The United States is the hardest hit due to the virus with over 3.1 million cases and over 133,000 deaths. Apart from Florida, COVID-19 infections have been reported in Missouri, Idaho, Alabama, Montana and Oregon. Florida has also seen a huge surge in coronavirus cases with Miami-Dade County reporting 33.5 per cent coronavirus positive cases among those who were tested for the virus. Houston cancelled the Texas Republican Party's state convention, the mayor announced due to surge in COVID-19 cases. "This decision is the decision to protect the health and safety of the employees, the delegates and the members of the public," Democratic mayor Sylvester Turner said. Houston now has 40,012 cases of coronavirus with several cases reported in the past month along with other southern states who have experienced spikes.

Relationship with China severely damaged, not considering phase-2 trade deal: Trump

Amid the coronavirus pandemic, US President Trump said that he does not want to talk to China's President Xi "right now" while suggesting that he "could cut off whole relationship" with China.

"I have a very good relationship, but I just -- right now I don't want to speak to him," Trump told Fox Business, a US television news channel.

"There are many things we could do. We could do things. We could cut off the whole relationship," Trump warned while declaring that he was "very disappointed" by China's handling of the coronavirus pandemic.

In a tweet on Wednesday, the US president had said, "As I have said for a long time, dealing with China is a very expensive thing to do. We just made a great trade deal, the ink was barely dry, and the world was hit by the plague from China."

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As I have said for a long time, dealing with China is a very expensive thing to do. We just made a great Trade Deal, the ink was barely dry, and the World was hit by the Plague from China. 100 Trade Deals wouldn’t make up the difference - and all those innocent lives lost!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1260578860992737285?ref_src=twsrc%5Etfw">May 13, 2020</a></blockquote>
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"Hundred trade deals wouldn’t make up the difference - and all those innocent lives lost,"&nbsp;the US president said.

Trump has been at loggerheads with China ever since coronavirus cases shot up in the US. The United States has over 80,000 casualties and over 1.2 million cases of COVID-19. The US president has repeatedly blamed China for not warning early about the virus.

Amid the coronavirus pandemic, US President Trump said that he does not want to talk to China's President Xi "right now" while suggesting that he "could cut off whole relationship" with China.

Amid the coronavirus pandemic, US President Trump said that he does not want to talk to China's President Xi "right now" while suggesting that he "could cut off whole relationship" with China. "I have a very good relationship, but I just -- right now I don't want to speak to him," Trump told Fox Business, a US television news channel. "There are many things we could do. We could do things. We could cut off the whole relationship," Trump warned while declaring that he was "very disappointed" by China's handling of the coronavirus pandemic. In a tweet on Wednesday, the US president had said, "As I have said for a long time, dealing with China is a very expensive thing to do. We just made a great trade deal, the ink was barely dry, and the world was hit by the plague from China." As I have said for a long time, dealing with China is a very expensive thing to do. We just made a great Trade Deal, the ink was barely dry, and the World was hit by the Plague from China. 100 Trade Deals wouldn’t make up the difference - and all those innocent lives lost! — Donald J. Trump (@realDonaldTrump) May 13, 2020 × "Hundred trade deals wouldn’t make up the difference - and all those innocent lives lost," the US president said. Trump has been at loggerheads with China ever since coronavirus cases shot up in the US. The United States has over 80,000 casualties and over 1.2 million cases of COVID-19. The US president has repeatedly blamed China for not warning early about the virus.

Amid COVID-19 crisis, Trump threatens to 'cut off whole relationship with China'

Tying a political opponent to a geopolitical enemy, it's the oldest trick in the book. A trick which sounds something like this - Biden and Beijing, Beijing and Biden -&nbsp;both are bad.

Both want each other badly, let us beautifully bash them and be the bosses again - this is Donald Trump's strategy to stay on in the White House.

A strategy aimed at turning a weakness into a strength. Donald Trump has failed in fighting the pandemic. For him, there's more to gain in attacking China and Joe Biden right now, than promoting his own leadership.

Offense, they say, is the best form of defence. America is facing its worst economic downturn since the great depression. Wuhan virus cases in the US are way past the 1 million mark and 63,000 lives have been lost.

For Donald Trump attack is the only defence left So he's attacking China which gave America a virus that has disrupted its roaring economy and he's attacking Joe Biden who is being a "sleepy joe" and apparently has a long record of appeasing China. Here is a point of view about these two adversaries of the US president.

Adversary No-1 - China. We have established repeatedly, that China is no saint. It has much to answer for. China is apparently trying to woo American states. It is planning to extend a helping hand to states and pit them against the Trump administration.

The Global Times - China's foremost peddler of propaganda carried a report on March 19, it was penned by their Editor-in-Chief Hu-Xijin. A man who is said to be in "good standing" of the Chinese Communist party. Anything he writes can very well be considered China's official policy.

His report titled "Co-operate with US states on virus fight, not the Federal government". It lays out a framework for China on how to counter the US government. It's a two-pronged strategy.

Prioritize the most vulnerable states in America, there are many and prioritize the Blue states, the states run by the Democrats, there are at least 15 of them currently.

Prioritize them by doing what? By giving a cold shoulder to the federal government by making governors and mayors work with Beijing and not Washington by giving purchase orders to these states before the Federal government and by selective export of non-defective equipment to these states.

In simpler words by creating more adversaries for Trump within his own country. He has many already, and well deserved ones. Joe Biden is an adversary who could replace Donald Trump or so he would like. He's now the real frontrunner in the race to the White House. Joe Biden's ratings have shot up. In a head-to-head matchup,&nbsp;Joe Biden beats Trump by 49 per cent to 41 per cent.&nbsp;

Independents favour Biden over Trump 44 per cent to 35 per cent. He tops Trump by a similar margin on healthcare - 53 per cent to 40 per cent.

But Mr Biden isn't celebrating. He's firefighting against a sexual assault allegation. That quintessential feature of American elections. These allegations date back to the 1990s.

They have been leveled by a woman called Tara Reade, a former staffer in Biden's Senate office for nine months. Reade was one of the seven women who came forward in 2019 to say that Biden had made them feel inappropriate.

That he tried to forcefully touch and kiss her. Joe Biden issued a statement this evening. He says the allegations are untrue. He says that "this never happened" 
and he is scheduled to appear on television on Saturday to discuss the allegations.

Donald Trump is in luck his adversaries are scoring self goals. A political rival caught in old controversies and a geo-political foe suffering a major trust deficit.

Tying a political opponent to a geopolitical enemy, it's the oldest trick in the book. A trick which sounds something like this - Biden and Beijing, Beijing and Biden - both are bad.

Tying a political opponent to a geopolitical enemy, it's the oldest trick in the book. A trick which sounds something like this - Biden and Beijing, Beijing and Biden - both are bad. Both want each other badly, let us beautifully bash them and be the bosses again - this is Donald Trump's strategy to stay on in the White House. A strategy aimed at turning a weakness into a strength. Donald Trump has failed in fighting the pandemic. For him, there's more to gain in attacking China and Joe Biden right now, than promoting his own leadership. Offense, they say, is the best form of defence. America is facing its worst economic downturn since the great depression. Wuhan virus cases in the US are way past the 1 million mark and 63,000 lives have been lost. For Donald Trump attack is the only defence left So he's attacking China which gave America a virus that has disrupted its roaring economy and he's attacking Joe Biden who is being a "sleepy joe" and apparently has a long record of appeasing China. Here is a point of view about these two adversaries of the US president. Adversary No-1 - China. We have established repeatedly, that China is no saint. It has much to answer for. China is apparently trying to woo American states. It is planning to extend a helping hand to states and pit them against the Trump administration. The Global Times - China's foremost peddler of propaganda carried a report on March 19, it was penned by their Editor-in-Chief Hu-Xijin. A man who is said to be in "good standing" of the Chinese Communist party. Anything he writes can very well be considered China's official policy. His report titled "Co-operate with US states on virus fight, not the Federal government". It lays out a framework for China on how to counter the US government. It's a two-pronged strategy. Prioritize the most vulnerable states in America, there are many and prioritize the Blue states, the states run by the Democrats, there are at least 15 of them currently. Prioritize them by doing what? By giving a cold shoulder to the federal government by making governors and mayors work with Beijing and not Washington by giving purchase orders to these states before the Federal government and by selective export of non-defective equipment to these states. In simpler words by creating more adversaries for Trump within his own country. He has many already, and well deserved ones. Joe Biden is an adversary who could replace Donald Trump or so he would like. He's now the real frontrunner in the race to the White House. Joe Biden's ratings have shot up. In a head-to-head matchup, Joe Biden beats Trump by 49 per cent to 41 per cent. Independents favour Biden over Trump 44 per cent to 35 per cent. He tops Trump by a similar margin on healthcare - 53 per cent to 40 per cent. But Mr Biden isn't celebrating. He's firefighting against a sexual assault allegation. That quintessential feature of American elections. These allegations date back to the 1990s. They have been leveled by a woman called Tara Reade, a former staffer in Biden's Senate office for nine months. Reade was one of the seven women who came forward in 2019 to say that Biden had made them feel inappropriate. That he tried to forcefully touch and kiss her. Joe Biden issued a statement this evening. He says the allegations are untrue. He says that "this never happened" and he is scheduled to appear on television on Saturday to discuss the allegations. Donald Trump is in luck his adversaries are scoring self goals. A political rival caught in old controversies and a geo-political foe suffering a major trust deficit.

Target Beijing & Biden - Trump strategy to stay in White House

The Trump administration on Monday slashed by nearly half the number of Chinese nationals who can work for state-run media in the United States.

<a href="https://www.wionews.com/world/chinese-authorities-using-visas-as-weapons-against-foreign-press-report-283792">Also Read:&nbsp;Chinese authorities using visas as weapons against foreign press, says Report</a>

"Today, we announced a personnel cap on Chinese government-controlled media organizations in the United States", secretary of state Mike Pompeo said in a statement.

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Today, we announced a personnel cap on Chinese government-controlled media organizations in the United States. We urge Beijing to respect freedom of expression and will continue to seek reciprocity across the bilateral relationship.
— Secretary Pompeo (@SecPompeo) <a href="https://twitter.com/SecPompeo/status/1234540896357670913?ref_src=twsrc%5Etfw">March 2, 2020</a></blockquote>
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"We urge Beijing to respect freedom of expression and will continue to seek reciprocity across the bilateral relationship," Pompeo added.

The Foreign Correspondents' Club of China (FCCC) in a report had said earlier that Chinese authorities were using visas as weapons against the foreign press like never before.

<a href="https://www.wionews.com/world/after-expelling-journalists-china-demands-apology-from-the-wall-street-journal-282443">Also Read:&nbsp;After expelling journalists, China demands apology from The Wall Street Journal</a>

"Since 2013, when Xi Jinping's ascension to power was completed, China has forced out nine foreign journalists, either through outright expulsion or by non-renewal of visas, the FCC said.

Earlier, China had expelled three The Wall Street Journal reporters over what it called a racist headline titled "China is the Real Sick Man of Asia".

However, China's foreign ministry said: "What happened to the Wall Street Journal journalists was just an independent case."

"There are over 600 foreign journalists stationed in China and they don't need to worry about their reporting in China as long as they observe Chinese laws and regulations," China's foreign ministry spokesman said.

The Trump administration on Monday slashed by nearly half the number of Chinese nationals who can work for state-run media in the United States. Also Read: Chinese authorities using visas as weapons against foreign press, says Report "Today, we announced a personnel cap on Chinese government-controlled media organizations in the United States", secretary of state Mike Pompeo said in a statement.

The Trump administration on Monday slashed by nearly half the number of Chinese nationals who can work for state-run media in the United States. Also Read: Chinese authorities using visas as weapons against foreign press, says Report "Today, we announced a personnel cap on Chinese government-controlled media organizations in the United States", secretary of state Mike Pompeo said in a statement. Today, we announced a personnel cap on Chinese government-controlled media organizations in the United States. We urge Beijing to respect freedom of expression and will continue to seek reciprocity across the bilateral relationship. — Secretary Pompeo (@SecPompeo) March 2, 2020 × "We urge Beijing to respect freedom of expression and will continue to seek reciprocity across the bilateral relationship," Pompeo added. The Foreign Correspondents' Club of China (FCCC) in a report had said earlier that Chinese authorities were using visas as weapons against the foreign press like never before. Also Read: After expelling journalists, China demands apology from The Wall Street Journal "Since 2013, when Xi Jinping's ascension to power was completed, China has forced out nine foreign journalists, either through outright expulsion or by non-renewal of visas, the FCC said. Earlier, China had expelled three The Wall Street Journal reporters over what it called a racist headline titled "China is the Real Sick Man of Asia". However, China's foreign ministry said: "What happened to the Wall Street Journal journalists was just an independent case." "There are over 600 foreign journalists stationed in China and they don't need to worry about their reporting in China as long as they observe Chinese laws and regulations," China's foreign ministry spokesman said.

Trump administration announces caps on Chinese staff working in state media in US

A day after <a href="https://www.wionews.com/world/i-like-the-idea-of-waiting-until-after-election-for-china-trade-deal-trump-265970">US President Donald Trump </a>said he had "no deadline" on the trade deal, China's foreign ministry echoed his thoughts saying it had "not set any time limit on when the deal will or will not be reached".&nbsp;

"We will not set any time limit on when the deal will or will not be reached," Chinese foreign ministry spokeswoman Hua Chunying said, adding, "This agreement and these negotiations must be based on equality and mutual respect."

President Trump while speaking to reporters in London for the <a href="https://www.wionews.com/world/nato-leaders-including-trudeau-macron-caught-mocking-trump-on-camera-266158">NATO summit </a>said that he "liked"&nbsp;the idea of waiting until after the election for the China deal.

"I'm doing very well in a deal with China, if I want to make it," Trump said while asserting that "I don't think it's 'if they want to make it', it's 'if I want to make it'. And we'll see what happens."

The Chinese foreign ministry said that it would defend its "legitimate and lawful interests" in negotiations with the US.

"If we are faced with the pressure of unilateralism, protectionism, and trade bullying, we will have no choice and must take resolute and decisive measures to defend our legitimate and lawful interests," Hua added.

World stocks were hit on Tuesday after Trump warned there was no deadline for a trade deal with China. The Dow Jones Industrial Average ended at 27,502.81, down one per cent.

S&amp;P 500 shed 0.7 per cent, closing at 3,093.21, while the tech-rich Nasdaq Composite Index also dropped 0.6 per cent to 8,520.64.

Tokyo stocks closed lower on Tuesday as investors locked in profits following declines in American shares.

A day after US President Donald Trump said he had "no deadline" on the trade deal, China's foreign ministry echoed his thoughts saying it had "not set any time limit on when the deal will or will not be reached".

A day after US President Donald Trump said he had "no deadline" on the trade deal, China's foreign ministry echoed his thoughts saying it had "not set any time limit on when the deal will or will not be reached". "We will not set any time limit on when the deal will or will not be reached," Chinese foreign ministry spokeswoman Hua Chunying said, adding, "This agreement and these negotiations must be based on equality and mutual respect." President Trump while speaking to reporters in London for the NATO summit said that he "liked" the idea of waiting until after the election for the China deal. "I'm doing very well in a deal with China, if I want to make it," Trump said while asserting that "I don't think it's 'if they want to make it', it's 'if I want to make it'. And we'll see what happens." The Chinese foreign ministry said that it would defend its "legitimate and lawful interests" in negotiations with the US. "If we are faced with the pressure of unilateralism, protectionism, and trade bullying, we will have no choice and must take resolute and decisive measures to defend our legitimate and lawful interests," Hua added. World stocks were hit on Tuesday after Trump warned there was no deadline for a trade deal with China. The Dow Jones Industrial Average ended at 27,502.81, down one per cent. S&P 500 shed 0.7 per cent, closing at 3,093.21, while the tech-rich Nasdaq Composite Index also dropped 0.6 per cent to 8,520.64. Tokyo stocks closed lower on Tuesday as investors locked in profits following declines in American shares.

After Trump, China says 'no time limit' on trade deal with US

The United States on Monday formally accused <a href="https://www.wionews.com/world/trump-defends-stance-on-china-trade-after-new-tariffs-says-things-are-going-well-240486">China of manipulating </a>its currency, marking the second major escalation in the two countries' spiralling trade war in just 24 hours.

Washington's sudden move came the day China allowed the yuan to fall below 7 to the dollar for the first time in about a decade -&nbsp;provoking US President Donald Trump's ire and <a href="https://www.wionews.com/south-asia/pakistan-looses-3-key-positions-in-world-trade-organisation-240613">sending global equities</a> markets diving into the red.

Wall Street on Monday posted its worst one-day losses of 2019 as hope of any near-term resolution to the year-long trade war between the world's top two economies appeared to slide out of view.

In a Twitter outburst earlier in the day, Trump had angrily accused Beijing of weakening the yuan "to steal our businesses and factories."

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China is intent on continuing to receive the hundreds of Billions of Dollars they have been taking from the U.S. with unfair trade practices and currency manipulation. So one-sided, it should have been stopped many years ago!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1158407373666566145?ref_src=twsrc%5Etfw">August 5, 2019</a></blockquote>
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US Treasury Secretary Steven Mnuchin, "under the auspices of President Trump, has today determined that China is a<a href="https://www.wionews.com/business-economy/chinese-yuan-falls-to-weakest-level-against-the-dollar-since-2010-240743"> currency manipulator</a>," the Treasury Department said in a statement late Monday.

As a result, Mnuchin will engage the International Monetary Fund "to eliminate the unfair competitive advantage created by China's latest actions," the statement said.

The new designation is largely symbolic, since it calls for consultations with countries found to be manipulating their currencies.

But it could gain teeth if the Commerce Department begins imposing tariffs on countries found to be undervaluing their currencies, as that department said earlier this year it plans to do.

The volley lobbed across the Pacific on Monday was sure to shake the global economy even further, with markets doubtful that either side is willing or able to prevent hostilities from spinning out of control.

Chinese state media also announced Monday that Beijing had suspended purchases of American farm exports, piling pain on US agricultural states already battered by Beijing's retaliation in the trade war.

The yuan's weakening came just days after Trump announced plans to raise tariffs on another $300 billion in Chinese imports starting September 1, accusing Beijing of failing to live up to commitments in trade negotiations.

That would mean virtually all of the roughly $660 billion in goods exchanged annually between China and the United States are subject to trade barriers.

The battle has sapped business confidence and undermined both countries' manufacturing sectors just as the world economy's slowdown worsens.

Activity in the US service sector hit a three-year low last month, survey data showed Monday, confirming a step-down in US economic growth.

Trump's move was also sudden: On the campaign trail, he had loudly pledged to designate China a currency manipulator but his administration had until Monday refrained from doing so.

The Treasury Department had instead kept China on a "monitoring list" of countries subject to close scrutiny due to their currency practices, including in its most recent report released in May.&nbsp;

The yuan is not freely convertible and the government limits its movement against the US dollar to a two per cent range on either side of a central parity rate which the People's Bank of China (PBOC) sets each day to reflect market trends and control volatility.

"It appears that the tariffs hike suggests the return of tit-for-tat moves and a suspension of trade talks, and the PBOC sees no need to keep the yuan stable in the near term," Ken Cheung, a senior currency strategist at Mizuho Bank, told Bloomberg News.

In a statement on Monday morning, the PBOC said the exchange rate against the US dollar had been "affected by unilateralism and trade protectionism measures and the imposition of tariff increases on China."

The central bank said the yuan remained "stable and strong against the basket of currencies" and said it would "resolutely crack down on short-term speculation and maintain stable operation of the foreign exchange market and stabilize market expectations."

It went on to say that it had the "experience, confidence and ability to keep the RMB exchange rate basically stable at a reasonable and balanced level."

Julian Evans-Pritchard, senior China economist with Capital Economics, said the PBOC has "effectively weaponized the exchange rate" by linking the currency with the US trade war.

"Given that their goal is presumably to offset some of the impact from additional US tariffs, they are likely to allow the currency to weaken further, probably by 5-10 per cent over the coming quarters," said Evans-Pritchard.

The United States on Monday formally accused China of manipulating its currency, marking the second major escalation in the two countries' spiralling trade war in just 24 hours.

The United States on Monday formally accused China of manipulating its currency, marking the second major escalation in the two countries' spiralling trade war in just 24 hours. Washington's sudden move came the day China allowed the yuan to fall below 7 to the dollar for the first time in about a decade - provoking US President Donald Trump's ire and sending global equities markets diving into the red. Wall Street on Monday posted its worst one-day losses of 2019 as hope of any near-term resolution to the year-long trade war between the world's top two economies appeared to slide out of view. In a Twitter outburst earlier in the day, Trump had angrily accused Beijing of weakening the yuan "to steal our businesses and factories." China is intent on continuing to receive the hundreds of Billions of Dollars they have been taking from the U.S. with unfair trade practices and currency manipulation. So one-sided, it should have been stopped many years ago! — Donald J. Trump (@realDonaldTrump) August 5, 2019 × US Treasury Secretary Steven Mnuchin, "under the auspices of President Trump, has today determined that China is a currency manipulator," the Treasury Department said in a statement late Monday. As a result, Mnuchin will engage the International Monetary Fund "to eliminate the unfair competitive advantage created by China's latest actions," the statement said. The new designation is largely symbolic, since it calls for consultations with countries found to be manipulating their currencies. But it could gain teeth if the Commerce Department begins imposing tariffs on countries found to be undervaluing their currencies, as that department said earlier this year it plans to do. The volley lobbed across the Pacific on Monday was sure to shake the global economy even further, with markets doubtful that either side is willing or able to prevent hostilities from spinning out of control. Chinese state media also announced Monday that Beijing had suspended purchases of American farm exports, piling pain on US agricultural states already battered by Beijing's retaliation in the trade war. The yuan's weakening came just days after Trump announced plans to raise tariffs on another $300 billion in Chinese imports starting September 1, accusing Beijing of failing to live up to commitments in trade negotiations. That would mean virtually all of the roughly $660 billion in goods exchanged annually between China and the United States are subject to trade barriers. The battle has sapped business confidence and undermined both countries' manufacturing sectors just as the world economy's slowdown worsens. Activity in the US service sector hit a three-year low last month, survey data showed Monday, confirming a step-down in US economic growth. Trump's move was also sudden: On the campaign trail, he had loudly pledged to designate China a currency manipulator but his administration had until Monday refrained from doing so. The Treasury Department had instead kept China on a "monitoring list" of countries subject to close scrutiny due to their currency practices, including in its most recent report released in May. The yuan is not freely convertible and the government limits its movement against the US dollar to a two per cent range on either side of a central parity rate which the People's Bank of China (PBOC) sets each day to reflect market trends and control volatility. "It appears that the tariffs hike suggests the return of tit-for-tat moves and a suspension of trade talks, and the PBOC sees no need to keep the yuan stable in the near term," Ken Cheung, a senior currency strategist at Mizuho Bank, told Bloomberg News. In a statement on Monday morning, the PBOC said the exchange rate against the US dollar had been "affected by unilateralism and trade protectionism measures and the imposition of tariff increases on China." The central bank said the yuan remained "stable and strong against the basket of currencies" and said it would "resolutely crack down on short-term speculation and maintain stable operation of the foreign exchange market and stabilize market expectations." It went on to say that it had the "experience, confidence and ability to keep the RMB exchange rate basically stable at a reasonable and balanced level." Julian Evans-Pritchard, senior China economist with Capital Economics, said the PBOC has "effectively weaponized the exchange rate" by linking the currency with the US trade war. "Given that their goal is presumably to offset some of the impact from additional US tariffs, they are likely to allow the currency to weaken further, probably by 5-10 per cent over the coming quarters," said Evans-Pritchard.

US designates China a currency manipulator as yuan hits record low

Talks between US and Chinese trade officials seeking ways to end a<a href="https://www.wionews.com/world/us-china-trade-talks-begin-amid-trumps-threat-of-tougher-deal-ahead-239601"> year-long trade war</a> lasted barely half a day before ending on Wednesday with a terse response from China's foreign ministry to US President Donald Trump's warning not to stall.

As US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin had landed in Shanghai on Tuesday as Trump accused Beijing on Twitter of stalling, and warned of a worse outcome for China if it continued to do so.

"The problem with them waiting ... is that if &amp; when I win, the deal that they get will be much tougher than what we are negotiating now ... or no deal at all," Trump had said on Twitter.

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China is doing very badly, worst year in 27 - was supposed to start buying our agricultural product now - no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years....
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1156159999833513984?ref_src=twsrc%5Etfw">July 30, 2019</a></blockquote>
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Chinese foreign ministry spokeswoman Hua Chunying, responding to a question about those tweets, said she was not aware of the latest developments during talks, but that it was clear it was the United States who continued to "flip flop".

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...to ripoff the USA, even bigger and better than ever before. The problem with them waiting, however, is that if &amp; when I win, the deal that they get will be much tougher than what we are negotiating now...or no deal at all. We have all the cards, our past leaders never got it!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1156160014173822977?ref_src=twsrc%5Etfw">July 30, 2019</a></blockquote>
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"I believe it doesn't make any sense for the US to exercise its campaign of maximum pressure at this time. It's pointless to tell others to take medication when you're the one who is sick," Hua told a news briefing.

This week's meetings, the first in-person trade talks since a G20 truce last month, amounted to a working dinner on Tuesday at Shanghai's historic riverfront Fairmont Peace Hotel and a half-day of negotiations on Wednesday. Neither team made immediate public comments.

Chinese Vice Premier Liu He, who leads the Chinese delegation, waved off Lighthizer, Mnuchin and other US officials as their motorcade pulled away from Shanghai's Xijiao State Guest Hotel following a group photo session that concluded around 1:45pm(local time), about 30 minutes before it was originally scheduled to begin.

A US government official told Reuters that the US officials were headed to the airport.

The trade war between the world's two largest economies has disrupted global supply chains and shaken financial markets as each side has slapped tariffs on billions of dollars of each other's goods.

An official Chinese government survey released on Wednesday showed China's factory activity shrank for the third month in a row in July, underlining the growing strains the row has placed on the No. 2 economy.

The Shanghai talks were expected to centre on "goodwill" gestures, such as Chinese commitments to purchase US agricultural commodities and steps by the United States to ease some sanctions on Chinese telecoms equipment giant Huawei Technologies Co Ltd, a person familiar with the discussions told Reuters earlier.

Those issues are somewhat removed from the more core US complaints in the trade dispute, including Chinese state subsidies, forced technology transfers and intellectual property violations.

Trump and Chinese President Xi Jinping agreed in June at the G20 summit in Osaka, Japan, to restart trade talks that stalled in May, after Washington accused Beijing of reneging on major portions of a draft agreement -- a collapse in the talks that prompted a steep US tariff hike on $200 billion of Chinese goods.

The US Commerce Department put Huawei on a national security blacklist in May, effectively banning US firms from selling to Huawei, a move that enraged Chinese officials.

Talks between US and Chinese trade officials seeking ways to end a year-long trade war lasted barely half a day before ending on Wednesday with a terse response from China's foreign ministry to US President Donald Trump's warning not to stall.

Talks between US and Chinese trade officials seeking ways to end a year-long trade war lasted barely half a day before ending on Wednesday with a terse response from China's foreign ministry to US President Donald Trump's warning not to stall. As US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin had landed in Shanghai on Tuesday as Trump accused Beijing on Twitter of stalling, and warned of a worse outcome for China if it continued to do so. "The problem with them waiting ... is that if & when I win, the deal that they get will be much tougher than what we are negotiating now ... or no deal at all," Trump had said on Twitter. China is doing very badly, worst year in 27 - was supposed to start buying our agricultural product now - no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years.... — Donald J. Trump (@realDonaldTrump) July 30, 2019 × Chinese foreign ministry spokeswoman Hua Chunying, responding to a question about those tweets, said she was not aware of the latest developments during talks, but that it was clear it was the United States who continued to "flip flop". ...to ripoff the USA, even bigger and better than ever before. The problem with them waiting, however, is that if & when I win, the deal that they get will be much tougher than what we are negotiating now...or no deal at all. We have all the cards, our past leaders never got it! — Donald J. Trump (@realDonaldTrump) July 30, 2019 × "I believe it doesn't make any sense for the US to exercise its campaign of maximum pressure at this time. It's pointless to tell others to take medication when you're the one who is sick," Hua told a news briefing. This week's meetings, the first in-person trade talks since a G20 truce last month, amounted to a working dinner on Tuesday at Shanghai's historic riverfront Fairmont Peace Hotel and a half-day of negotiations on Wednesday. Neither team made immediate public comments. Chinese Vice Premier Liu He, who leads the Chinese delegation, waved off Lighthizer, Mnuchin and other US officials as their motorcade pulled away from Shanghai's Xijiao State Guest Hotel following a group photo session that concluded around 1:45pm(local time), about 30 minutes before it was originally scheduled to begin. A US government official told Reuters that the US officials were headed to the airport. The trade war between the world's two largest economies has disrupted global supply chains and shaken financial markets as each side has slapped tariffs on billions of dollars of each other's goods. An official Chinese government survey released on Wednesday showed China's factory activity shrank for the third month in a row in July, underlining the growing strains the row has placed on the No. 2 economy. The Shanghai talks were expected to centre on "goodwill" gestures, such as Chinese commitments to purchase US agricultural commodities and steps by the United States to ease some sanctions on Chinese telecoms equipment giant Huawei Technologies Co Ltd, a person familiar with the discussions told Reuters earlier. Those issues are somewhat removed from the more core US complaints in the trade dispute, including Chinese state subsidies, forced technology transfers and intellectual property violations. Trump and Chinese President Xi Jinping agreed in June at the G20 summit in Osaka, Japan, to restart trade talks that stalled in May, after Washington accused Beijing of reneging on major portions of a draft agreement -- a collapse in the talks that prompted a steep US tariff hike on $200 billion of Chinese goods. The US Commerce Department put Huawei on a national security blacklist in May, effectively banning US firms from selling to Huawei, a move that enraged Chinese officials.

No sense for US to exercise maximum pressure, says China as trade meeting ends

China on Tuesday rebuffed a suggestion from<a href="https://www.wionews.com/world/thousands-of-companies-leaving-china-that-is-why-they-want-make-a-deal-trump-236190"> US President Donald Trump</a> that Beijing needs a trade deal with the United States because its economy is slowing, saying this was "totally misleading" and that both countries wanted an agreement.

Trump, in a Monday tweet, seized on slowing economic growth in China as evidence that US tariffs were having "a major effect" and warned that Washington could pile on more pressure.

Official data on Monday showed China's economic <a href="https://www.wionews.com/world/china-gdp-growth-slows-to-62-in-second-quarter-236024">growth cooled to 6.2 per cent&nbsp;</a>in the second quarter, the weakest annual pace in at least 27 years, amid trade pressure from the United States. In the first half, the economy grew 6.3 per cent compared with a year earlier.

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Chinese foreign ministry spokesman Geng Shuang said China's first-half pace was a "not bad performance" considering global economic uncertainty and slowing world growth, and in line with outside expectations.

China's stable growth was good for the world and also the US&nbsp;economy, Geng told a daily news briefing.

"As for United States' so-called 'because China's economy is slowing so China urgently hopes to reach an agreement with the US side', this is totally misleading," he added.

Both China and the United States wanted to reach a trade deal, not China alone, Geng said.

Many people in the United States strongly opposed the tariffs and the trade war, he added.

"I again call on the US side to work hard with China, meet each other halfway, and on the basis of mutual respect and treatment, strive to reach a mutually beneficial, win-win agreement. This accords with the interests of both countries and is what the international community expects."

Trump and Chinese President Xi Jinping last month agreed to another truce in the year-long trade spat between the world's two largest economies.

That agreement, announced after the leaders met in Osaka, Japan, was aimed at kickstarting stalled negotiations, but no deadline has been set for the process to conclude.

Hu Xijin, editor of the widely-read Chinese tabloid Global Times, published by the ruling Communist Party's official People's Daily, responded on Twitter to Trump's comment, asking if it was "noble for a president to gloat".

"6.2% is much higher than US growth. Wait until US growth hits 6.2% then laugh at China," Hu tweeted. "Chinese economic growth slows down because of restructuring. The credit doesn't go to the White House."

The People's Daily said it was "laughable" to say the Chinese economy was being given trouble by the US&nbsp;tariffs.

"From trade and investment to technology, China is contributing more and more positive energy to global development," it said in a commentary. "These irrefutable facts are not negated by anyone raising a hubbub."

China on Tuesday rebuffed a suggestion from US President Donald Trump that Beijing needs a trade deal with the United States because its economy is slowing, saying this was "totally misleading" and that both countries wanted an agreement.

China on Tuesday rebuffed a suggestion from US President Donald Trump that Beijing needs a trade deal with the United States because its economy is slowing, saying this was "totally misleading" and that both countries wanted an agreement. Trump, in a Monday tweet, seized on slowing economic growth in China as evidence that US tariffs were having "a major effect" and warned that Washington could pile on more pressure. Official data on Monday showed China's economic growth cooled to 6.2 per cent in the second quarter, the weakest annual pace in at least 27 years, amid trade pressure from the United States. In the first half, the economy grew 6.3 per cent compared with a year earlier. Chinese foreign ministry spokesman Geng Shuang said China's first-half pace was a "not bad performance" considering global economic uncertainty and slowing world growth, and in line with outside expectations. China's stable growth was good for the world and also the US economy, Geng told a daily news briefing. "As for United States' so-called 'because China's economy is slowing so China urgently hopes to reach an agreement with the US side', this is totally misleading," he added. Both China and the United States wanted to reach a trade deal, not China alone, Geng said. Many people in the United States strongly opposed the tariffs and the trade war, he added. "I again call on the US side to work hard with China, meet each other halfway, and on the basis of mutual respect and treatment, strive to reach a mutually beneficial, win-win agreement. This accords with the interests of both countries and is what the international community expects." Trump and Chinese President Xi Jinping last month agreed to another truce in the year-long trade spat between the world's two largest economies. That agreement, announced after the leaders met in Osaka, Japan, was aimed at kickstarting stalled negotiations, but no deadline has been set for the process to conclude. Hu Xijin, editor of the widely-read Chinese tabloid Global Times, published by the ruling Communist Party's official People's Daily, responded on Twitter to Trump's comment, asking if it was "noble for a president to gloat". "6.2% is much higher than US growth. Wait until US growth hits 6.2% then laugh at China," Hu tweeted. "Chinese economic growth slows down because of restructuring. The credit doesn't go to the White House." The People's Daily said it was "laughable" to say the Chinese economy was being given trouble by the US tariffs. "From trade and investment to technology, China is contributing more and more positive energy to global development," it said in a commentary. "These irrefutable facts are not negated by anyone raising a hubbub."

China 'desperate' to reach trade deal with US totally misleading: Foreign ministry

US President Donald Trump threatened to hit China with tariffs on "at least" another $300 billion worth of Chinese goods but said he thought both China and Mexico wanted to make deals in their<a href="https://www.wionews.com/world/explainer-us-china-trade-war-the-levers-they-can-pull-224809"> trade disputes with the United States</a>.

Tensions between the world's two largest economies have risen sharply since talks aimed at ending a<a href="https://www.wionews.com/world/amid-us-china-row-huawei-signs-deal-with-russian-telecom-company-mts-to-develop-5g-network-224867"> festering trade war broke down</a> in early May.

While Trump said on Thursday that talks with China are ongoing, no face-to-face meetings have been held since May 10, the day he sharply increased tariffs on a $200 billion list of Chinese goods to 25%, prompting Beijing to retaliate.

"Our talks with China, a lot of interesting things are happening. We'll see what happens... I could go up another at least $300 billion and I'll do that at the right time," Trump told reporters on Thursday, without specifying which goods could be impacted.

"But I think China wants to make a deal and I think Mexico wants to make a deal badly," said Trump before boarding Air Force One at the Irish airport of Shannon on his way to France for a D-Day commemoration.

China's Commerce Ministry also said on Thursday that Beijing would have to adopt necessary countermeasures if Washington unilaterally escalates trade tensions, and that US pressure have caused serious setbacks to the trade talks.

The International Monetary Fund warned on Wednesday that escalating tariff threats were sapping business and market confidence, and could slow global growth that is currently expected to improve next year.

US Treasury Secretary Steven Mnuchin is scheduled to meet with People's Bank of China Governor Yi Gang this weekend at a gathering of G20 finance leaders in Japan, the first face-to-face discussion between key negotiators in nearly a month.

Mexican and US officials are also set to resume their talks in Washington on Thursday aimed at averting an imposition of tariffs on Mexican goods.

After saying that "not enough" progress on ways to curb migration was made when the two sides met on Wednesday, Trump told reporters on Thursday that Mexico had made progress in the talks but needed to do more.

He reiterated that 5 per cent tariffs on all Mexico's exports to the United States due to start on Monday will go ahead if progress is not made. The tariffs can rise to as much as 25 per cent later in the year.

US President Donald Trump threatened to hit China with tariffs on "at least" another $300 billion worth of Chinese goods but said he thought both China and Mexico wanted to make deals in their trade disputes with the United States.

US President Donald Trump threatened to hit China with tariffs on "at least" another $300 billion worth of Chinese goods but said he thought both China and Mexico wanted to make deals in their trade disputes with the United States. Tensions between the world's two largest economies have risen sharply since talks aimed at ending a festering trade war broke down in early May. While Trump said on Thursday that talks with China are ongoing, no face-to-face meetings have been held since May 10, the day he sharply increased tariffs on a $200 billion list of Chinese goods to 25%, prompting Beijing to retaliate. "Our talks with China, a lot of interesting things are happening. We'll see what happens... I could go up another at least $300 billion and I'll do that at the right time," Trump told reporters on Thursday, without specifying which goods could be impacted. "But I think China wants to make a deal and I think Mexico wants to make a deal badly," said Trump before boarding Air Force One at the Irish airport of Shannon on his way to France for a D-Day commemoration. China's Commerce Ministry also said on Thursday that Beijing would have to adopt necessary countermeasures if Washington unilaterally escalates trade tensions, and that US pressure have caused serious setbacks to the trade talks. The International Monetary Fund warned on Wednesday that escalating tariff threats were sapping business and market confidence, and could slow global growth that is currently expected to improve next year. US Treasury Secretary Steven Mnuchin is scheduled to meet with People's Bank of China Governor Yi Gang this weekend at a gathering of G20 finance leaders in Japan, the first face-to-face discussion between key negotiators in nearly a month. Mexican and US officials are also set to resume their talks in Washington on Thursday aimed at averting an imposition of tariffs on Mexican goods. After saying that "not enough" progress on ways to curb migration was made when the two sides met on Wednesday, Trump told reporters on Thursday that Mexico had made progress in the talks but needed to do more. He reiterated that 5 per cent tariffs on all Mexico's exports to the United States due to start on Monday will go ahead if progress is not made. The tariffs can rise to as much as 25 per cent later in the year.

Tariffs on Chinese goods could go up at least another $300 billion: Trump

After US media reports said China may<a href="https://www.wionews.com/world/china-considers-cancelling-trade-talks-with-us-after-trump-vows-new-tariff-hike-report-216292"> cancel trade talks</a> with the US, China's foreign ministry said its trade team was still preparing to leave for Washington for the next round of talks.

"We are currently working on understanding the situation," foreign ministry spokesman Geng Shuang said, adding,"the Chinese team is currently preparing to go to the US for negotiations."

On Sunday, <a href="https://www.wionews.com/world/trump-announces-higher-us-tariffs-on-china-goods-216186">President Trump had tweeted</a> asserting that he would impose renewed tariffs against China on $200 billion worth of Chinese goods this week and target hundreds of billions more soon.

"For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Trump tweeted adding, "the 10% will go up to 25% on Friday."

"The trade deal with China continues, but too slowly, as they attempt to renegotiate. No!" he added.

The latest round of talks follows US Treasury Secretary Steven Mnuchin's talks with Chinese officials in Beijing last month.

As a result of President Trump's Sunday tweet on imposition of new tariffs against China, Shanghai stocks suffered their worst day in more than three years on Monday. The benchmark Shanghai Composite Index sank 5.58 per cent, or 171.88 points, to 2,906.46.

Shanghai's decline was the worst in a single day since late February 2016.&nbsp;

In Hong Kong, the Hang Seng Index plunged 3.03 per cent, or 912.43 points, to 29,169.12 in the afternoon. Hong Kong stocks finally ended 2.90 per cent down after President Trump's tariffs threat.

China's yuan currency also suffered, losing 1.3 per cent at one point -- its heaviest drop for three years -- before recovering somewhat in the afternoon to 6.7976 to the dollar, down 0.92 per cent.

In India, the BSE Sensex opened over 400 points before recovering slightly as the blood bath in the markets continued worldwide. 
&nbsp;

After US media reports said China may cancel trade talks with the US, China's foreign ministry said its trade team was still preparing to leave for Washington for the next round of talks.

After US media reports said China may cancel trade talks with the US, China's foreign ministry said its trade team was still preparing to leave for Washington for the next round of talks. "We are currently working on understanding the situation," foreign ministry spokesman Geng Shuang said, adding,"the Chinese team is currently preparing to go to the US for negotiations." On Sunday, President Trump had tweeted asserting that he would impose renewed tariffs against China on $200 billion worth of Chinese goods this week and target hundreds of billions more soon. "For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Trump tweeted adding, "the 10% will go up to 25% on Friday." "The trade deal with China continues, but too slowly, as they attempt to renegotiate. No!" he added. The latest round of talks follows US Treasury Secretary Steven Mnuchin's talks with Chinese officials in Beijing last month. As a result of President Trump's Sunday tweet on imposition of new tariffs against China, Shanghai stocks suffered their worst day in more than three years on Monday. The benchmark Shanghai Composite Index sank 5.58 per cent, or 171.88 points, to 2,906.46. Shanghai's decline was the worst in a single day since late February 2016. In Hong Kong, the Hang Seng Index plunged 3.03 per cent, or 912.43 points, to 29,169.12 in the afternoon. Hong Kong stocks finally ended 2.90 per cent down after President Trump's tariffs threat. China's yuan currency also suffered, losing 1.3 per cent at one point -- its heaviest drop for three years -- before recovering somewhat in the afternoon to 6.7976 to the dollar, down 0.92 per cent. In India, the BSE Sensex opened over 400 points before recovering slightly as the blood bath in the markets continued worldwide.

After Trump's tariff threat, China says trade team still preparing for US talks

The United States and China launched critical trade talks on<a href="http://www.wionews.com/world/us-china-trade-talks-trump-to-meet-chinese-vice-premier-this-week-193558"> Wednesday amid deep differences over Washington's </a>demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 US tariff hike.

The two sides met next door to the White House in the highest-level talks since US President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December.

People familiar with the <a href="http://www.wionews.com/business-economy/china-us-trade-tension-a-major-risk-to-global-growth-imf-chief-192497">talks and trade experts watching them</a> say that, so far, there has been little indication that Chinese officials are willing to address core US demands to protect American intellectual property rights and end policies that Washington says force U.S. companies to transfer technology to Chinese firms.

The US complaints, along with accusations of Chinese cyber theft of US&nbsp;trade secrets and a systematic campaign to acquire US technology firms, were used by the Trump administration to justify punitive US tariffs on $250 billion worth of Chinese imports.

Cabinet-level officials, led by Chinese Vice Premier Liu He and US&nbsp;Trade Representative Robert Lighthizer, gathered in the Eisenhower Executive Office Building next to the White House.

During a photo opportunity at the start of the scheduled two days of talks, Lighthizer, Treasury Secretary Steven Mnuchin and other top Trump administration officials sat silently across a long table from their Chinese counterparts, ignoring a reporter's questions.

The talks began two days after the United States charged Chinese telecommunications company Huawei Technologies Co Ltd and its chief financial officer, Meng Wanzhou, with conspiring to violate U.S. sanctions on Iran by doing business through a subsidiary it tried to hide.

Meng was arrested in Canada on December&nbsp;1 at the request of the United States, which is seeking to have her extradited.

The talks in Washington are expected to be tense, with little indication so far that Chinese officials are willing to address core US demands to fully protect American intellectual property rights and end policies that Washington has said force US companies to transfer technology to Chinese firms.

The US&nbsp;complaints, along with accusations of Chinese cyber theft of US&nbsp;trade secrets and a systematic campaign to acquire US technology firms, were used by the Trump administration to justify punitive US&nbsp;tariffs on $250 billion worth of Chinese imports.

Trump has threatened to raise tariffs on $200 billion of goods to 25 per cent from 10 per cent on March 2 if an agreement cannot be reached. He has also threatened new tariffs on the remainder of Chinese goods shipped to the United States. China has retaliated with tariffs of its own, but has suspended some and is allowing some purchases of US soybeans during the talks.

Chinese officials deny that their policies coerce technology transfers.

The United States and China launched critical trade talks on Wednesday amid deep differences over Washington's demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 US tariff hike.

The United States and China launched critical trade talks on Wednesday amid deep differences over Washington's demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 US tariff hike. The two sides met next door to the White House in the highest-level talks since US President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December. People familiar with the talks and trade experts watching them say that, so far, there has been little indication that Chinese officials are willing to address core US demands to protect American intellectual property rights and end policies that Washington says force U.S. companies to transfer technology to Chinese firms. The US complaints, along with accusations of Chinese cyber theft of US trade secrets and a systematic campaign to acquire US technology firms, were used by the Trump administration to justify punitive US tariffs on $250 billion worth of Chinese imports. Cabinet-level officials, led by Chinese Vice Premier Liu He and US Trade Representative Robert Lighthizer, gathered in the Eisenhower Executive Office Building next to the White House. During a photo opportunity at the start of the scheduled two days of talks, Lighthizer, Treasury Secretary Steven Mnuchin and other top Trump administration officials sat silently across a long table from their Chinese counterparts, ignoring a reporter's questions. The talks began two days after the United States charged Chinese telecommunications company Huawei Technologies Co Ltd and its chief financial officer, Meng Wanzhou, with conspiring to violate U.S. sanctions on Iran by doing business through a subsidiary it tried to hide. Meng was arrested in Canada on December 1 at the request of the United States, which is seeking to have her extradited. The talks in Washington are expected to be tense, with little indication so far that Chinese officials are willing to address core US demands to fully protect American intellectual property rights and end policies that Washington has said force US companies to transfer technology to Chinese firms. The US complaints, along with accusations of Chinese cyber theft of US trade secrets and a systematic campaign to acquire US technology firms, were used by the Trump administration to justify punitive US tariffs on $250 billion worth of Chinese imports. Trump has threatened to raise tariffs on $200 billion of goods to 25 per cent from 10 per cent on March 2 if an agreement cannot be reached. He has also threatened new tariffs on the remainder of Chinese goods shipped to the United States. China has retaliated with tariffs of its own, but has suspended some and is allowing some purchases of US soybeans during the talks. Chinese officials deny that their policies coerce technology transfers.

US, China trade talks begin amid deep differences

The Chinese government in <a href="http://www.wionews.com/world/resolutely-opposed-to-us-legislation-on-tibet-china-185578">Tibet said it will boost numbers</a> and cut waiting times for foreign tourists visiting the highly restricted region, amid renewed pressure from the United States for greater access for US officials and journalists.

US President Donald Trump had <a href="http://www.wionews.com/world/us-demands-access-for-us-diplomats-journalists-to-tibet-threatening-to-bar-chinese-officials-183865">signed into law the Reciprocal Access to Tibet Act</a> in December, which seeks to press China to open the region by denying US entry for officials deemed responsible for restricting access to Tibet.

Beijing denounced the law at the time as interference in China's internal affairs, risking "serious harm" to ties with Washington.

China and the United States are engaged in talks to try to hammer out a deal to end a festering trade dispute that has threatened to sour the relationship across the board, including on issues such as security, influence and human rights.

The Tibetan government will shorten the time required for foreign tourists to gain access to the region by half and boost numbers by fifty per cent, Qizhala, chairman of the regional government, said in an annual work report published by the official Tibet Daily newspaper on Friday.

Non-Chinese visitors must apply for a special permit to travel to remote, mountainous Tibet, which is usually granted for tourists provided they travel with approved tour companies but rarely for journalists and diplomats.

Beijing has ruled Tibet with an iron fist since Chinese Communist Party troops marched into the region in 1950 in what it terms a "peaceful liberation".

Qizhala also pledged that the government in Tibet would "take a clear-cut stance in the fight against the Dalai clique", a reference to exiled spiritual leader the Dalai Lama.

"We must improve the monastery management and service mechanisms to defend the bottom line of Tibetan Buddhism not being manipulated by foreign forces," he said, and management of religious activities must prevent another "upsurge" of religion.

Rights groups and overseas activists say ethnic Tibetans face widespread restrictions under Chinese rule and the UN High Commissioner for Human Rights said in June conditions were "fast deteriorating".

This year marks the 60th anniversary of a Tibetan uprising against Chinese rule in 1959. Supporters of Tibetan independence and of the Dalai Lama have staged protests in the past to mark the uprising's anniversary, angering China.

China views the Dalai Lama, Tibet's Buddhist spiritual leader who fled into exile in India after the failed uprising, as a dangerous separatist.

The Nobel Peace laureate denies espousing violence and says he only wants genuine autonomy for Tibet.

The Chinese government in Tibet said it will boost numbers and cut waiting times for foreign tourists visiting the highly restricted region, amid renewed pressure from the United States for greater access for US officials and journalists.

The Chinese government in Tibet said it will boost numbers and cut waiting times for foreign tourists visiting the highly restricted region, amid renewed pressure from the United States for greater access for US officials and journalists. US President Donald Trump had signed into law the Reciprocal Access to Tibet Act in December, which seeks to press China to open the region by denying US entry for officials deemed responsible for restricting access to Tibet. Beijing denounced the law at the time as interference in China's internal affairs, risking "serious harm" to ties with Washington. China and the United States are engaged in talks to try to hammer out a deal to end a festering trade dispute that has threatened to sour the relationship across the board, including on issues such as security, influence and human rights. The Tibetan government will shorten the time required for foreign tourists to gain access to the region by half and boost numbers by fifty per cent, Qizhala, chairman of the regional government, said in an annual work report published by the official Tibet Daily newspaper on Friday. Non-Chinese visitors must apply for a special permit to travel to remote, mountainous Tibet, which is usually granted for tourists provided they travel with approved tour companies but rarely for journalists and diplomats. Beijing has ruled Tibet with an iron fist since Chinese Communist Party troops marched into the region in 1950 in what it terms a "peaceful liberation". Qizhala also pledged that the government in Tibet would "take a clear-cut stance in the fight against the Dalai clique", a reference to exiled spiritual leader the Dalai Lama. "We must improve the monastery management and service mechanisms to defend the bottom line of Tibetan Buddhism not being manipulated by foreign forces," he said, and management of religious activities must prevent another "upsurge" of religion. Rights groups and overseas activists say ethnic Tibetans face widespread restrictions under Chinese rule and the UN High Commissioner for Human Rights said in June conditions were "fast deteriorating". This year marks the 60th anniversary of a Tibetan uprising against Chinese rule in 1959. Supporters of Tibetan independence and of the Dalai Lama have staged protests in the past to mark the uprising's anniversary, angering China. China views the Dalai Lama, Tibet's Buddhist spiritual leader who fled into exile in India after the failed uprising, as a dangerous separatist. The Nobel Peace laureate denies espousing violence and says he only wants genuine autonomy for Tibet.

Amid US pressure, China to cut  waiting time for foreign tourists visiting Tibet

China declared today it was "resolutely"<a href="http://www.wionews.com/americas/canada-seeks-help-of-allies-for-release-of-detainees-in-china-185916"> opposed to Canada demanding</a> release of two detained citizens as relations between the two countries continued to decline.

Beijing had detained two Canadians - <a href="http://www.wionews.com/world/canada-us-call-for-immediate-release-of-two-canadians-held-by-china-185757">ex-diplomat, Michael Kovrig and businessman</a> Michael Spavor, just days after the arrest of Huawei CFO Meng Wanzhou on December 1.

"The Chinese side expressed strong dissatisfaction and resolute opposition to the statements made by Canada and the US," Chinese foreign ministry spokeswoman Hua Chunying said.

China had said that Michael Spavor, who worked with the North Korean government was being held for suspicious activities which harmed China's security.

Reports last week said a third Canadian, Sarah McIver, was also being held pending deportation for working illegally in China.

Earlier, China had criticised Britain and the European Union accusing it of "double standards" for not mentioning a senior Chinese executive, Meng Wanzhou's arrest in Vancouver, Canada.

China had said that Canada must release Chinese citizen, Meng Wanzhou, held "illegally" in the country. Meng was arrested after Washington insisted that Huawei was trading with Iran despite US sanctions.

Men denied the charge.

Chinese foreign ministry spokesperson Lu had said Meng's arrest was a "mistaken action". He urged Canada to immediately release her although the Huawei CFO was released after being arrested but her bail was "conditional" with the Canadian judge barring her from leaving the country.

Canadian foreign minister Chrystia Freeland, on the other hand, had said last week that Meng's extradition process should not be politicised after US President Trump said he would intervene in the case.

If the Canadian judge rules in favour of the US extradition request, Canada's justice minister must next decide whether to extradite Meng to the United States.

China declared today it was "resolutely" opposed to Canada demanding release of two detained citizens as relations between the two countries continued to decline.

China declared today it was "resolutely" opposed to Canada demanding release of two detained citizens as relations between the two countries continued to decline. Beijing had detained two Canadians - ex-diplomat, Michael Kovrig and businessman Michael Spavor, just days after the arrest of Huawei CFO Meng Wanzhou on December 1. "The Chinese side expressed strong dissatisfaction and resolute opposition to the statements made by Canada and the US," Chinese foreign ministry spokeswoman Hua Chunying said. China had said that Michael Spavor, who worked with the North Korean government was being held for suspicious activities which harmed China's security. Reports last week said a third Canadian, Sarah McIver, was also being held pending deportation for working illegally in China. Earlier, China had criticised Britain and the European Union accusing it of "double standards" for not mentioning a senior Chinese executive, Meng Wanzhou's arrest in Vancouver, Canada. China had said that Canada must release Chinese citizen, Meng Wanzhou, held "illegally" in the country. Meng was arrested after Washington insisted that Huawei was trading with Iran despite US sanctions. Men denied the charge. Chinese foreign ministry spokesperson Lu had said Meng's arrest was a "mistaken action". He urged Canada to immediately release her although the Huawei CFO was released after being arrested but her bail was "conditional" with the Canadian judge barring her from leaving the country. Canadian foreign minister Chrystia Freeland, on the other hand, had said last week that Meng's extradition process should not be politicised after US President Trump said he would intervene in the case. If the Canadian judge rules in favour of the US extradition request, Canada's justice minister must next decide whether to extradite Meng to the United States.

Resolutely oppose demand to free two detained Canadians: China

The US-China trade war is the "stupidest thing in the world," <a href="http://www.wionews.com/business-economy/full-blown-us-china-trade-war-will-slow-global-growth-by-less-than-1-imf-170313">Alibaba e-commerce tycoon Jack Ma declared </a>at an import fair that China opened Monday partly to counter foreign criticism of its trade policies.

Ma, who recently took back an earlier pledge to create a million jobs in the US - blaming the trade war launched by Donald Trump - made the comments in a panel discussion at the massive expo in Shanghai.

"(The) trade war is the most stupidest thing in this world," the Alibaba founder said, without mentioning Trump by name.

"Trade is to form ... peace. Trade is to communicate...nobody can stop free trade."

President Xi Jinping opened the China International Import Expo earlier Monday with a vague pledge to widen access to his country's economy, as Beijing faces growing impatience from trading partners.

But he also delivered a veiled rebuke to Trumpism, decrying "protectionism", "isolationism" and "the law of the jungle".

Ma, the billionaire owner of China's largest online shopping portal, made the headline-grabbing job-creation promise to Trump last year, when Beijing was still courting the then-newly elected president.&nbsp;

But Ma told official news agency Xinhua in September that the trade war had "destroyed the premise the promise was made on."&nbsp;

Anger over the trade surpluses that China enjoys has triggered growing foreign criticism and the worsening commercial conflict with Washington, which has seen both sides impose punitive tariffs on hundreds of billions of dollars worth of goods.

Beijing has touted the first annual import expo as a sign of its willingness to take in more imports and thereby reduce the surpluses.

Ma, who announced in September that he would step aside in a year's time to focus on philanthropy, said China's plans to remake itself as an importing nation would provoke resistance from vested interests.

"For my understanding, it's the greatest challenge for China. It’s a great opportunity for the world," he said.

The shift will "fundamentally change ... the whole infrastructure of business and (the) ecosystem. It’s going to be a huge pain to a lot of businesses, but it’s also going to be a good opportunity for a lot of consumers."

The US-China trade war is the "stupidest thing in the world," Alibaba e-commerce tycoon Jack Ma declared at an import fair that China opened Monday partly to counter foreign criticism of its trade policies.

The US-China trade war is the "stupidest thing in the world," Alibaba e-commerce tycoon Jack Ma declared at an import fair that China opened Monday partly to counter foreign criticism of its trade policies. Ma, who recently took back an earlier pledge to create a million jobs in the US - blaming the trade war launched by Donald Trump - made the comments in a panel discussion at the massive expo in Shanghai. "(The) trade war is the most stupidest thing in this world," the Alibaba founder said, without mentioning Trump by name. "Trade is to form ... peace. Trade is to communicate...nobody can stop free trade." President Xi Jinping opened the China International Import Expo earlier Monday with a vague pledge to widen access to his country's economy, as Beijing faces growing impatience from trading partners. But he also delivered a veiled rebuke to Trumpism, decrying "protectionism", "isolationism" and "the law of the jungle". Ma, the billionaire owner of China's largest online shopping portal, made the headline-grabbing job-creation promise to Trump last year, when Beijing was still courting the then-newly elected president. But Ma told official news agency Xinhua in September that the trade war had "destroyed the premise the promise was made on." Anger over the trade surpluses that China enjoys has triggered growing foreign criticism and the worsening commercial conflict with Washington, which has seen both sides impose punitive tariffs on hundreds of billions of dollars worth of goods. Beijing has touted the first annual import expo as a sign of its willingness to take in more imports and thereby reduce the surpluses. Ma, who announced in September that he would step aside in a year's time to focus on philanthropy, said China's plans to remake itself as an importing nation would provoke resistance from vested interests. "For my understanding, it's the greatest challenge for China. It’s a great opportunity for the world," he said. The shift will "fundamentally change ... the whole infrastructure of business and (the) ecosystem. It’s going to be a huge pain to a lot of businesses, but it’s also going to be a good opportunity for a lot of consumers."

Trade war stupidest thing in the world: Alibaba founder Jack Ma

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<h5>“The supreme art of war is to subdue the enemy without fighting.” ― Sun Tzu, The Art of War</h5>
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Chinese philosopher Sun Tzu's famous military classic written over 1,500 year ago sheds light on how to take on an enemy in the field of battle and vanquishing him through "all means necessary" - applying force is explicitly stated as the "last option".

US president Donald Trump it seems has read the book inside out, more than President Xi for even the IMF now believes China will be hit hard due to the escalating trade war. Trump has no doubt realised it is no use taking on China with weapons but to subdue it without fighting - just like Sun Tzu suggested.

India headed by Narendra Modi should perhaps take a leaf out of Trump, or maybe even read up Sun Tzu if it wants to slay the Dragon which looks at its weakest point in decades.

The trade war has definitely started to bite, not only does it show in the growth figures with China now under 7 per cent, the fact that Chinese government has been holding daily press conferences to threaten, beg and plead the US shows the Dragon has begun to lose its fire.

The current situation presents India with a great economic soft spot to strangle China - without confronting it militarily.

China has suddenly realised US is a "big bully" after crushing tariffs imposed by Trump. The Chinese ambassador, in fact, went one step ahead and requested India for enhanced trade ties.

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<h5>"If you know neither the enemy nor yourself, you will succumb in every battle" - Sun Tzu</h5>
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Last year India's trade deficit with China was highest at over $60 billion. Interestingly, China's fertilizer export to India grew nearly 17 per cent in 2017 worth over $1 billion.

China has in fact rightly targeted the biggest growth areas in India - agriculture and electrical products. China's machinery exports to India rose to a mammoth $21 billion last year, an increase of over 28 per cent.

India, however, refuses to address trade deficit as a matter of pressing concern with Chinese authorities while playing up the issue of Doklam &amp; Arunachal - political issues which is likely to be a lose-lose game for India.

In July, the Indian government had escalated the burgeoning trade deficit at the World Trade Organization calling it "unsustainable" while pressing China to lower trade barriers in Pharma, IT, rice and meat to address the trade imbalance, however, it has shied away from raising the issue directly to Chinese officials, nor has it sent any official delegation to Beijing in order to press its case.

Clearly, India's outlook towards trade is not like the Trump administration, however, it must be noted that trade is directly linked to job creation, an area famously milked by Trump but India has failed to address the issue altogether.

President Trump has ordered China to cut its deficit with the US by $200 billion which may be impossible but it has made everyone, including Americans aware about China's imbalance in trade with the United States.&nbsp; 
&nbsp;

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<h5>"We cannot enter into alliances until we are acquainted with the designs of our neighbours," Sun Tzu</h5>
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China is India's largest trading partner accounting for nearly $90 billion share of the trade pie, eclipsing the US by over $15 billion. Although India and China had signed the Most Favored Nation Treatment agreement under the 1984 pact but clearly China has taken the lead in targeting India. Even though India is known as an "IT superpower" but it is China which has exported IT and machinery to India flattening India's chances and key growth driver.

Recently, India's Industry minister Suresh Prabhu had said China has become India's key trading partner in a relatively small duration but India's trade deficit has been growing.

During the event, the minister said industry associations want the government to pursue "defensive approach" to Free Trade Agreements(FTAs) and raise tariffs on goods in order to protect domestic producers. The minister released a study on China's trade policy vis a vis other countries, possible negotiations under Asia Pacific Free Trade Agreement(APTA) and a separate section deals with opportunities arising out of US-China trade standoff.&nbsp; 
&nbsp; 
The Indian government is still trying to study the report and is yet to form a "line of attack" or strategy as Sun Tzu would say. No timeline has been set on how to take advantage of the current trade war between China and the US.&nbsp;

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<h5>"Let your rapidity be that of the wind, your compactness that of the forest" Sun Tzu</h5>
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PM Modi will be meeting Chinese President Xi Jinping in Argentina next month on the sidelines of the G20 summit, no doubt there will be photo-ops and India-China friendship slogans raised but India should be mindful of its place in the world economy and look to seize the moment.&nbsp;

India has already lost the first-mover advantage as far as trade is concerned but like the US, it should devise a Sun Tzu-like forward strategy to scare and strangle the Middle Kingdom if it wants to be taken seriously in the economic high table.&nbsp;

India in the 21st century can no longer afford to be a mere market but has to seize other markets in order to grow and compete or risk being taken over by foreign companies which are aggressive, focused and more importantly - ruthless.

Trump had recently called India a "Tariff King", it is time India lived up to its label.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

“The supreme art of war is to subdue the enemy without fighting.” ― Sun Tzu, The Art of War × Chinese philosopher Sun Tzu's famous military classic written over 1,500 year ago sheds light on how to take on an enemy in the field of battle and vanquishing him through "all means necessary" - applying force is explicitly stated as the "last option".

“The supreme art of war is to subdue the enemy without fighting.” ― Sun Tzu, The Art of War × Chinese philosopher Sun Tzu's famous military classic written over 1,500 year ago sheds light on how to take on an enemy in the field of battle and vanquishing him through "all means necessary" - applying force is explicitly stated as the "last option". US president Donald Trump it seems has read the book inside out, more than President Xi for even the IMF now believes China will be hit hard due to the escalating trade war. Trump has no doubt realised it is no use taking on China with weapons but to subdue it without fighting - just like Sun Tzu suggested. India headed by Narendra Modi should perhaps take a leaf out of Trump, or maybe even read up Sun Tzu if it wants to slay the Dragon which looks at its weakest point in decades. The trade war has definitely started to bite, not only does it show in the growth figures with China now under 7 per cent, the fact that Chinese government has been holding daily press conferences to threaten, beg and plead the US shows the Dragon has begun to lose its fire. The current situation presents India with a great economic soft spot to strangle China - without confronting it militarily. China has suddenly realised US is a "big bully" after crushing tariffs imposed by Trump. The Chinese ambassador, in fact, went one step ahead and requested India for enhanced trade ties. "If you know neither the enemy nor yourself, you will succumb in every battle" - Sun Tzu × Last year India's trade deficit with China was highest at over $60 billion. Interestingly, China's fertilizer export to India grew nearly 17 per cent in 2017 worth over $1 billion. China has in fact rightly targeted the biggest growth areas in India - agriculture and electrical products. China's machinery exports to India rose to a mammoth $21 billion last year, an increase of over 28 per cent. India, however, refuses to address trade deficit as a matter of pressing concern with Chinese authorities while playing up the issue of Doklam & Arunachal - political issues which is likely to be a lose-lose game for India. In July, the Indian government had escalated the burgeoning trade deficit at the World Trade Organization calling it "unsustainable" while pressing China to lower trade barriers in Pharma, IT, rice and meat to address the trade imbalance, however, it has shied away from raising the issue directly to Chinese officials, nor has it sent any official delegation to Beijing in order to press its case. Clearly, India's outlook towards trade is not like the Trump administration, however, it must be noted that trade is directly linked to job creation, an area famously milked by Trump but India has failed to address the issue altogether. President Trump has ordered China to cut its deficit with the US by $200 billion which may be impossible but it has made everyone, including Americans aware about China's imbalance in trade with the United States. "We cannot enter into alliances until we are acquainted with the designs of our neighbours," Sun Tzu × China is India's largest trading partner accounting for nearly $90 billion share of the trade pie, eclipsing the US by over $15 billion. Although India and China had signed the Most Favored Nation Treatment agreement under the 1984 pact but clearly China has taken the lead in targeting India. Even though India is known as an "IT superpower" but it is China which has exported IT and machinery to India flattening India's chances and key growth driver. Recently, India's Industry minister Suresh Prabhu had said China has become India's key trading partner in a relatively small duration but India's trade deficit has been growing. During the event, the minister said industry associations want the government to pursue "defensive approach" to Free Trade Agreements(FTAs) and raise tariffs on goods in order to protect domestic producers. The minister released a study on China's trade policy vis a vis other countries, possible negotiations under Asia Pacific Free Trade Agreement(APTA) and a separate section deals with opportunities arising out of US-China trade standoff. The Indian government is still trying to study the report and is yet to form a "line of attack" or strategy as Sun Tzu would say. No timeline has been set on how to take advantage of the current trade war between China and the US. "Let your rapidity be that of the wind, your compactness that of the forest" Sun Tzu × PM Modi will be meeting Chinese President Xi Jinping in Argentina next month on the sidelines of the G20 summit, no doubt there will be photo-ops and India-China friendship slogans raised but India should be mindful of its place in the world economy and look to seize the moment. India has already lost the first-mover advantage as far as trade is concerned but like the US, it should devise a Sun Tzu-like forward strategy to scare and strangle the Middle Kingdom if it wants to be taken seriously in the economic high table. India in the 21st century can no longer afford to be a mere market but has to seize other markets in order to grow and compete or risk being taken over by foreign companies which are aggressive, focused and more importantly - ruthless. Trump had recently called India a "Tariff King", it is time India lived up to its label. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Why India should borrow from Trump's trade playbook and impose tariffs against China

President Donald Trump on Wednesday said it is hard for China to have a trade deal with America claiming the US has rebuilt the country but at the cost of a massive trade deficit.

<a href="http://www.wionews.com/world/concerned-over-chinas-lack-of-currency-transparency-us-172036">Also</a><a href="http://www.wionews.com/world/concerned-over-chinas-lack-of-currency-transparency-us-172036"> Read:&nbsp;Concerned over China's lack of currency transparency, says US Treasury&nbsp;</a>

"We have rebuilt China, just so you understand. Our country has rebuilt China, with their hard work and genius also. But how our country has allowed itself to lose $500 billion a year, and much more than that, is ridiculous, is ridiculous," Trump told reporters during a Cabinet meeting at the White House.

"So, it's hard for them to do a deal, because they've had it so good for so long; it's a very hard thing for them to do," said the US president when asked why he told the Chinese that they are not ready for a trade deal yet.

"You said the Chinese want to make a deal, but you told them they're (not ready yet)," he was asked.&nbsp;

"I told them they're not ready yet. No, because they've had -- they've made too much.." he said as he went to explain that Chinese have benefited a lot from the current trade relationship with the US and that is why they do not want any change.

"But we have a very good relationship with China. I have a great relationship with President Xi, and I think you'll see something happen that's going to be good for both countries," Trump said.

President Donald Trump on Wednesday said it is hard for China to have a trade deal with America claiming the US has rebuilt the country but at the cost of a massive trade deficit.

President Donald Trump on Wednesday said it is hard for China to have a trade deal with America claiming the US has rebuilt the country but at the cost of a massive trade deficit. Also Read: Concerned over China's lack of currency transparency, says US Treasury "We have rebuilt China, just so you understand. Our country has rebuilt China, with their hard work and genius also. But how our country has allowed itself to lose $500 billion a year, and much more than that, is ridiculous, is ridiculous," Trump told reporters during a Cabinet meeting at the White House. "So, it's hard for them to do a deal, because they've had it so good for so long; it's a very hard thing for them to do," said the US president when asked why he told the Chinese that they are not ready for a trade deal yet. "You said the Chinese want to make a deal, but you told them they're (not ready yet)," he was asked. "I told them they're not ready yet. No, because they've had -- they've made too much.." he said as he went to explain that Chinese have benefited a lot from the current trade relationship with the US and that is why they do not want any change. "But we have a very good relationship with China. I have a great relationship with President Xi, and I think you'll see something happen that's going to be good for both countries," Trump said.

Our country has rebuilt China, says Trump

Beijing is not a currency manipulator but China's exchange rate practices and the yuan's recent decline are of "particular concern," US Treasury Steven Mnuchin said.

<a href="http://www.wionews.com/business-economy/full-blown-us-china-trade-war-will-slow-global-growth-by-less-than-1-imf-170313">Also Read:&nbsp;Full-blown US-China trade war will slow global growth by less than 1%, declares&nbsp;IMF</a>

In putting Beijing and five other US trading partners on notice, the Treasury again refrained from escalating a fight over China's currency as US President&nbsp;Trump had once pledged to do on the campaign trail.

"Of particular concern are China's lack of currency transparency and the recent weakness in its currency," Mnuchin said in releasing a twice-yearly report to Congress on how country's manage exchange rates and trade.

"These pose major challenges to achieving fairer and more balanced trade and we will continue to monitor and review China's currency practices, including through ongoing discussions with the People's Bank of China."

Washington has long argued that China keeps its currency artificially low to make its exports more competitive but in recent years the yuan or renminbi (RMB) has strengthened and is viewed by economists as more in line with economic fundamentals.

Still, as US interest rates have risen, the US dollar has strengthened further, which makes American exports more expensive.

Washington and Beijing are locked in a&nbsp;battle over the yawning US-China trade deficit, which Trump describes as a "job killer".&nbsp;

Washington has slapped punishing tariffs on about half of all China's goods exports to the United States, with talks to resolve the matter at an apparent impasse.

Trump in April 2017 dropped his campaign pledge to label Beijing a currency manipulator, telling The Wall Street Journal that Beijing was not intervening to weaken its currency.

Beijing is not a currency manipulator but China's exchange rate practices and the yuan's recent decline are of "particular concern," US Treasury Steven Mnuchin said.

Beijing is not a currency manipulator but China's exchange rate practices and the yuan's recent decline are of "particular concern," US Treasury Steven Mnuchin said. Also Read: Full-blown US-China trade war will slow global growth by less than 1%, declares IMF In putting Beijing and five other US trading partners on notice, the Treasury again refrained from escalating a fight over China's currency as US President Trump had once pledged to do on the campaign trail. "Of particular concern are China's lack of currency transparency and the recent weakness in its currency," Mnuchin said in releasing a twice-yearly report to Congress on how country's manage exchange rates and trade. "These pose major challenges to achieving fairer and more balanced trade and we will continue to monitor and review China's currency practices, including through ongoing discussions with the People's Bank of China." Washington has long argued that China keeps its currency artificially low to make its exports more competitive but in recent years the yuan or renminbi (RMB) has strengthened and is viewed by economists as more in line with economic fundamentals. Still, as US interest rates have risen, the US dollar has strengthened further, which makes American exports more expensive. Washington and Beijing are locked in a battle over the yawning US-China trade deficit, which Trump describes as a "job killer". Washington has slapped punishing tariffs on about half of all China's goods exports to the United States, with talks to resolve the matter at an apparent impasse. Trump in April 2017 dropped his campaign pledge to label Beijing a currency manipulator, telling The Wall Street Journal that Beijing was not intervening to weaken its currency.

Concerned over China's lack of currency transparency: US

President Trump in an interview to a TV channel said the US tariffs on Chinese products have had a big impact even as he attacked China saying "they have lived too well for too long".

<a href="http://www.wionews.com/world/fresh-200-billion-us-tariffs-chinese-goods-take-effect-167350">Also</a><a href="http://www.wionews.com/world/fresh-200-billion-us-tariffs-chinese-goods-take-effect-167350"> Read:&nbsp;Fresh $200 billion US tariffs on Chinese goods take effect</a>

"They lived too well for too long and, frankly, I guess they think that the Americans are stupid people. Americans are not stupid people," Trump told the US TV channel.

Trump's comments come amid reports of the International Monetary Fund(IMF) lowering China's growth forecast to 6.2 per cent next year, down from 6.4 predicted earlier. "The forecast does not incorporate the impact of further tariffs on Chinese and other imports threatened by the United States, the IMF had said while releasing the report.

"Their economy has gone down very substantially," he US president said. "I have a lot more to do if I want to do it. I don't want to do it but they have to come to the table," the US president said.

The US and China have been involved in a tit-for-tat trade war with President Trump declaring that he may impose tariffs on all Chinese goods entering the US if the Xi government did not comply with US demands allowing lowering of current account deficit among other conditions.

"We are not going to pay $500 billion a year to China and rebuild China, he said adding,"we have helped rebuild China more than any other factor. We have helped rebuild it. I said it's over."

Trump had imposed tariffs on nearly $200 billion of Chinese imports last month and then threatened more levies if China retaliated. China then hit back with tariffs $60 billion of US imports.

Trump said China wanted to negotiate but he does not believe they are ready and he told them so.

The Monetary Fund had cautioned in its report that China's growth could fall by as much as a full percentage point or more next year if the "worst-case" scenario materialises, involving more tariffs by the US, a Chinese counter-response and collapse in business confidence.

President Trump in an interview to a TV channel said the US tariffs on Chinese products have had a big impact even as he attacked China saying "they have lived too well for too long".

President Trump in an interview to a TV channel said the US tariffs on Chinese products have had a big impact even as he attacked China saying "they have lived too well for too long". Also Read: Fresh $200 billion US tariffs on Chinese goods take effect "They lived too well for too long and, frankly, I guess they think that the Americans are stupid people. Americans are not stupid people," Trump told the US TV channel. Trump's comments come amid reports of the International Monetary Fund(IMF) lowering China's growth forecast to 6.2 per cent next year, down from 6.4 predicted earlier. "The forecast does not incorporate the impact of further tariffs on Chinese and other imports threatened by the United States, the IMF had said while releasing the report. "Their economy has gone down very substantially," he US president said. "I have a lot more to do if I want to do it. I don't want to do it but they have to come to the table," the US president said. The US and China have been involved in a tit-for-tat trade war with President Trump declaring that he may impose tariffs on all Chinese goods entering the US if the Xi government did not comply with US demands allowing lowering of current account deficit among other conditions. "We are not going to pay $500 billion a year to China and rebuild China, he said adding,"we have helped rebuild China more than any other factor. We have helped rebuild it. I said it's over." Trump had imposed tariffs on nearly $200 billion of Chinese imports last month and then threatened more levies if China retaliated. China then hit back with tariffs $60 billion of US imports. Trump said China wanted to negotiate but he does not believe they are ready and he told them so. The Monetary Fund had cautioned in its report that China's growth could fall by as much as a full percentage point or more next year if the "worst-case" scenario materialises, involving more tariffs by the US, a Chinese counter-response and collapse in business confidence.

China's economy has gone down very substantially, Americans are not stupid people: Trump

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